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Cussins set to create 500 jobs.

AN estimated 500 jobs will be created as North East housebuilder Cussins progresses with expansion plans on the back of a PS5m investment.

The money, secured from BGF (Business Growth Fund) will support the acquisition of land and the development of up to 300 new houses per year throughout the next four years.

As part of the investment, Cussins has also secured a PS7m debt facility from Lloyds Bank Commercial Banking.

Chief executive of the Alnwickbased firm, Jabin Cussins, said: "A number of factors in the market have combined to make this an opportune time to grow the business.

"The investment from BGF alongside a larger bank facility from Lloyds provides us with the ability to significantly expand our development programme.

"As a family-run business, it was important we found the right investor to partner with, and BGF's long-term investment approach, focused on growth, was an ideal fit for us."

It is thought that around 90-95% of the jobs will be in construction, with the remainder being officebased. Cussins has around a dozen sites in the pipeline.

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Title Annotation:Features
Publication:Evening Chronicle (Newcastle, England)
Date:Dec 16, 2014
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