A PLANNED £14.5 million investment by a Lisburn-based food logistics group will help it take advantage of the opportunities that have arisen due to Brexit and the Northern Ireland Protocol, a new report has concluded.
The PRM Group is proposing a new 142,000 sq ft distribution and logistics-led development on an industrial site on Moira Road.
The family-run company’s plans were made public a year ago. In the period since, PRM has commissioned a substantial volume of detailed reports in support of its full planning application, which was submitted last week.
The body of research includes a new report from Oxford Economics, which explores the range of economic benefits the new complex would have for the Lisburn area.
The Oxford headquartered economic advisory firm is a global operation of 300 economists, providing reports, forecasts and analytical tools to more than 2,000 organisations from governments to multinationals.
It found that the new facility would create an initial 50 jobs once opened, increasing to 178 in the longer term. It estimated the development will be worth around £6.5m for the local economy once fully operational.
But Oxford Economics also concluded that PRM’s plans will help it take advantage of the post-Brexit regulatory landscape.
Set up by Philip and Lynne Morrow in 1988, the Lisburn group has grown into one of the biggest frozen and chilled food delivery groups on the island of Ireland.
Its clients include Müller, Karro, Alpro and Unilever.
Oxford Economics said while Brexit and the resulting protocol had created a range of challenges in the movement of goods, it said there were also new opportunities for businesses in the Northern Ireland logistics sector.
“PRM Group has been proactive in chasing these opportunities and in solving potential customs challenges,” states the report.
“For example, it appointed two full time customs agents to support their operations. As a result of how PRM Group responded, they have experienced notable growth in recent years, expanding their client base to include a range of well-known retailers.”
Dated November 2022, the report, which has been published on the Northern Ireland Planning Portal, summarises a range of data and evidence from sources including the Northern Ireland Statistics and Research Agency (Nisra), Manufacturing NI and Belfast Harbour.
“The Northern Ireland Protocol, although disruptive and challenging, does bring with it some opportunities for the logistics sector,” it states.
“The planned development, strategically located on the Belfast-Dublin corridor, could be well placed to maximise these opportunities.”
