HUNDREDS of jobs could be in the pipeline after defence company BAE Systems revealed it was close to selling its Brough site to an offshore investment fund.
The aviation giant says it is working closely with Bridgehouse Capital to develop the site at Brough, which employed a 2,000-strong workforce until a few years ago.
The development of the site could bring welcome jobs and a boost to the local economy after hundreds of skilled jobs were lost at the BAE plant in the past 18 months.
A BAE spokeswoman said: "BAE Systems has entered into a development partnership with Bridgehouse in relation to a number of sites across the UK including Brough.
"The agreement to purchase land and facilities on the Brough site will see both parties work together to deliver redevelopment plans – including delivering local employment and economic benefits.
"This strategic real estate partnership blends BAE Systems Real Estate Solutions 20 years' experience of delivering transformation projects for the company with Bridgehouse's extensive global commercial real estate development and regeneration experience."
BAE said it is still keen to be involved in the Brough site.
The spokeswoman said: "BAE Systems is committed to maintaining a long-term presence at Brough and we will continue to support the Humber Enterprise partnership in attracting other companies to the Brough Enterprise Zone in order to help stimulate economic growth and employment within the area."
The aviation giant says it is working closely with Bridgehouse Capital to develop the site at Brough, which employed a 2,000-strong workforce until a few years ago.
The development of the site could bring welcome jobs and a boost to the local economy after hundreds of skilled jobs were lost at the BAE plant in the past 18 months.
A BAE spokeswoman said: "BAE Systems has entered into a development partnership with Bridgehouse in relation to a number of sites across the UK including Brough.
"The agreement to purchase land and facilities on the Brough site will see both parties work together to deliver redevelopment plans – including delivering local employment and economic benefits.
"This strategic real estate partnership blends BAE Systems Real Estate Solutions 20 years' experience of delivering transformation projects for the company with Bridgehouse's extensive global commercial real estate development and regeneration experience."
BAE said it is still keen to be involved in the Brough site.
The spokeswoman said: "BAE Systems is committed to maintaining a long-term presence at Brough and we will continue to support the Humber Enterprise partnership in attracting other companies to the Brough Enterprise Zone in order to help stimulate economic growth and employment within the area."
