Vote of confidence in Ipswich as work starts on new Futura Park factory
18 October 2020
One of the largest manufacturing companies in Ipswich is showing faith in the future of the town by building a new factory on Futura Park – allowing it to expand significantly over the next five years.
Hubbard Products is having a new factory built on Crane Boulevard opposite Marshall’s Land Jaguar/Land Rover dealership – with the construction work officially getting under way this week.
The factory deal leaves just one plot left vacant on Futura Park – and an announcement about its future is expected within the next few weeks.
Ilias Katsoulis, managing director of Hubbard Products, said the new factory would enable the company – which builds refrigeration units – to expand significantly over the next few years.
He said: “We employ 170 people at present, and we aim to have about 250 employees by 2025. This is an ideal site for us because it has very good transport links and it is not far from our current factory.”
Mr Katsoulis said it was important to stay in the area because the skilled staff were all based locally. He said: “The company was formed more than 50 years ago in Martlesham and moved to Otley before we came to our current factory in Ipswich. We want to build on their skills so when we wanted to expand it was important to get a new factory nearby.
“We are very happy with this and we are looking forward to moving in next year.”
Paul Isaacs from AquiGen, which has developed Futura Park as a business and retail centre, said the new plant should be largely complete by February and the move by Hubbard Products should be completed by April.
Planning permission had been obtained at the start of the year, and originally Hubbard had hoped to be in their new factory by the end of 2020 but the pandemic had slowed progress so only the groundwork had so far been completed.
The opening was also welcomed by Ipswich council leader David Ellesmere who was also at the site – he said it was really encouraging that a business like Hubbard Products was investing heavily to stay in the town.
He said: “This is a real vote of confidence. There is no doubt that we are facing some uncertain economic time, but this kind of investment is really good news for the town.”