ERDF Convergence Programme helps global company expand in Cornwall.
Penryn based LDD Ltd, is set to expand into a brand new £3.3m highly sustainable, state of the art, business facility in 2015.
This has been possible through the combined efforts of private sector investment and £1.8m support from the European Regional Development Fund under the Convergence Programme.
LDD is a world-wide specialist marine and subsea foundation installation service company. The company design, engineer, build and operate world class installation and drilling equipment to augment delivery of their comprehensive foundation solutions across a whole host of different projects around the world; which include oil and gas offshore structures; LNG/iron ore/coal and other resource marine terminals; ports and harbours and giant offshore wind turbines.
The new building at Tolvaddon Energy Park, Pool will provide over 2,000 sqm of high quality, sustainable office and factory premises for the growing business. In addition, the expansion will safeguard existing high value employment and local supply chains which support LDD and result in the creation of new, skilled jobs.
Jason Clark ACSM, Founder and Managing Director of LDD Ltd said: ‘We have strong plans for the continued expansion of our business including creation of new (LDD group) businesses spinning out from LDD. Outgrowing our existing rented premises, we have been looking for suitable high quality office and workshop space for some time. When the option arose to expand at Tolvaddon we saw this as a good opportunity for us. It was very important for us to stay in Cornwall: our business takes us around the world from Australia to Colombia to North Wales and whilst theoretically we could have relocated anywhere, we really wanted to stay in Cornwall. Cornwall is where the ‘heart and soul’ of the business is and home to the team that started and built it from scratch, to what it is today.’
The company already have offices in Australia and Singapore but they had reached the full potential of their global headquarter site in Penryn. Jason went on to say: ‘Our current site at Penryn is a series of temporary buildings. Often the teams out on jobs across the world have better facilities to work in than our office and workshop employees. It has served us very well from our early start up days but it is now time to move on. As we often work on renewable energy projects and as a business and group of people we are environmentally conscious, we felt our new space should have environmental assets. Therefore having a building with a BREEAM ‘Excellent’ rating was important to us.’
Robert McGuffie Director of RJM Property & Development Consultants said: ‘We are delighted to have secured this important investment from the ERDF Convergence Programme. This pre-let to LDD demonstrates the need for high quality buildings across Cornwall and in the Camborne Pool Redruth (CPR) area is still a high priority for business. Once this building at the Energy Park is finished it will join other new builds across CPR such as the speculative development at Treleigh Industrial Estate which is nearing completion and offers interested businesses brand new solutions to expansion in Cornwall.’
One key motivation to moving was the drive by LDD to really accelerate expansion of their new ‘spin off’ company LM Handling. Jason from LDD said: ‘As a company founded in Cornwall we plan to expand operations from our current 70 employees over the next five years. We want to continue to create well paid, skilled jobs in an area traditionally reliant on low paid employment opportunities and contribute much more to putting Cornwall on the global map as a centre of excellence in our area of work; inspired by past times when Cornwall led the world in several areas, such as hard rock mining’.
Chris Pomfret, Chair of the LEP and Deputy Chair of the Convergence Local Management Committee, which steers the Convergence programme said: ‘The worldwide interest in green and marine is growing at an astounding rate, one of our key ambitions is for Cornwall and the Isles of Scilly to be a pioneer in this sector. The expansion of LDD in the CPR area is an exciting prospect not only for business but also for future job creation and I wish this Cornish company all the best in their new home.’
L-R Robert McGuffie (RJM Property & Development), Andy Seager (WP of Operations LDD) Chris Pomfret (Convergence) Jason Clark (Managing Director LDD)
- Find out more about LDD www.lddrill.com
- BREEAM stands for Building Research Establishment Environmental Assessment Method
- Robert McGuffie from RJM Property & Development Consultants Ltd undertook the preparation of the Convergence Grant Funding application on behalf of Balanus Assets Ltd
Plots 2b, 4 & 5 Tolvaddon Energy Park is part financed by the European Regional Development Fund Programme 2007 to 2013. The Department for Communities and Local Government is the managing authority for the European Regional Development Fund Programme, which is one of the funds established by the European Commission to help local areas stimulate their economic development by investing in projects which will support local businesses and create jobs.
For more information visit:
ERDF Convergence: £1,833,455
Balanus Assets Ltd: £1,479,236
For more information visit www.erdfconvergence.org.uk
Media Relations Officer for the Convergence support team
Robert McGuffie MRICS BSc (Hons)
Director, RJM Property & Development Consultants Ltd
Tel: 01726 66922
Email: [email protected]
Economic Development and Culture
Economy, Enterprise and Environment Directorate
Cornwall Council, 4th Floor, West Wing, New County Hall,
Treyew Road, Truro, TR1 3AY
Tuesday 10 June 2014