National Wealth Fund backs cutting-edge Advanced Manufacturing and Engineering Centre in Bury St Edmunds

30 Jul 2026

West Suffolk Council and The National Wealth Fund have agreed a loan facility to help deliver the new state-of-the-art Advanced Manufacturing and Engineering Centre (AME) in Bury St Edmunds, bringing jobs, innovation and growth to the area.

Designed to support advanced manufacturing and engineering startup businesses, the AME Centre will deliver 17 flexible, self-contained workshop units, as well as shared meeting and conference spaces. By filling a critical market gap, the centre will boost economic resilience, enable sustainable development and close skills shortages. 

The National Wealth Fund is loaning West Suffolk Council £8.795 million to help finance the new facility, demonstrating its role in supporting advanced manufacturing – which has been identified as a priority in the Government’s Industrial Strategy – while helping to drive regional growth and productivity. The project is expected to support and create at least 55 jobs once the AME Centre is in use.

The Fund offers local authorities a market leading rate of interest, reducing the council's borrowing costs and improving overall affordability. The council will repay the loan using rental income from the AME Centre and retained business rates from the nearby Enterprise Zone* at Suffolk Park.

Further funding for the £17.25 million project is coming from £3 million retained Enterprise Zone funding and a £3.45 million investment by West Suffolk Council. Suffolk Business Board are also contributing a capital grant of up to £2 million, in addition to £166,000 annually over 15 years from their share of the Enterprise Zone funding.

The innovative project, the concept of which was first agreed in 2021, will be a significant step forward in bolstering Suffolk’s reputation as one of the leaders in advanced manufacturing and supports a key growth area in West Suffolk.

The building is also being sustainably designed, with air source heat pumps, LED lighting, and solar panels to increase energy efficiency and EV chargers accessible to staff and visitors. The site will be fully electric as part of the council’s ambition to achieve net zero carbon emissions by 2039 and to end new sites being reliant on gas.

Cllr Diane Hind, Cabinet Member for Resource at West Suffolk Council, said: “I am delighted that the National Wealth Fund continue to see West Suffolk as a council and location to invest in. 

“Through borrowing with the National Wealth Fund, £350,000 in interest saving will be made over the life of the loan compared to PWLB rates, which offers great value for money. The savings made will then be used to support the council’s services to our communities across West Suffolk.” 

Cllr Indy Wijenayaka, Cabinet Member for Growth for West Suffolk Council, said: “Securing the loan from the National Wealth Fund cements the AME Centre as a significant project for the region that will play a transformative role in sustainable growth for the local economy. The centre will facilitate new and existing businesses to grow and create opportunities for skills, training and employment.

"We are grateful for the collaborative efforts of our partners, Suffolk County Council, the Suffolk Business Board, and the NWF in backing this vital project.”

Oliver Holbourn, CEO of the National Wealth Fund, said: “The National Wealth Fund is keen to help local authorities foster the industries of the future, bringing high-quality jobs, opportunity and growth to these areas, and this loan is a great example of that.

“This is the second West Suffolk Council project to be backed by the Fund, reflecting strong alignment between the authority and the National Wealth Fund’s strategic ambitions.”

Business, Innovation, Science and Trade Secretary Jonathan Reynolds said: "This loan will not only back scale-ups, but help bring new jobs and opportunities locally whilst ensuring Britain remains a thriving advanced manufacturing destination on the world stage.

“Our Industrial Strategy is supporting this exact kind of innovation-led growth, backing British talent, growing priority sectors, and delivering growth in every postcode."
 

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