Funding support to help create 70 new jobs as Panaloc moves to Hull
Panaloc Worldwide Manufacturing Ltd has relocated from Manchester to a 100,000sq ft manufacturing facility on Kingston International Business Park, with the help of economic development company Hull Forward.
Regional grant funding of up to £258,000 has been secured which will enable Panaloc to develop its business in Hull, potentially creating up to 70 new full and part-time jobs in research, design, manufacturing, assembly and support.
The company is a technically advanced off-site manufacturer of accommodation such as fitted out room and bathroom pods, and plans to build a significant business in the growing sectors of affordable hotels and housing, student accommodation, detention cells and panels for the retail sector.
John Holmes, chief executive of Hull Forward, said: “Panaloc’s move is good news for the city as it not only brings an innovative new business to the region, but also creates the potential for new skilled and semi-skilled jobs.
“It has a forward thinking management team and is the type of company that we will continue to try to attract to Hull. It more than merited grant funding, which we were happy to facilitate.”
To date, Hull Forward’s support in helping companies access funding has created and safeguarded 1,132 jobs, with a further 390 due to be created.
Effectively a new start-up, Panaloc has been awarded the funding support because of its capital expenditure and creation of direct and indirect employment.
Panaloc is finalising the commissioning of its new plant at the Hedon Road site in readiness for full production this year.
John Watkins, director and general manager, said: “Hull Forward has been very supportive throughout our relocation and our commissioning, and particularly helpful in securing the employment-based funding.
“We are aiming to secure about 10 per cent of the volumetric modular market where time is a critical factor, such as when retrofitting bathroom and room pods into existing buildings.
“By moving to Hull, we were able to improve our product offering, particularly by accessing locally important elements of the supply chain. We also benefit from an employee base experienced in caravan and off-site construction manufacturing.
“The same is true of local material and system suppliers who have the expertise and know-how associated with the industry”.
Kingston business Park is located on Hedon Road.
