Wolverhampton-based data storage group EDM has announced plans to expand its production and administration facilities in the city.
The group, which employs 300 people at its site in Woden Road, is planning to relocate to a new facility nearby and is in talks regarding several possible sites.
Chief executive Sam Ferguson said: "We have ambitious plans for this company that include significant developments of our services, our technology and our staff.
"It is very important that we create the right environment in which to take these steps forward. As a team we are moving beyond what Woden Road has been able to offer us and we are looking forward to an exciting new era of growth and expansion." Part of the reason for the move is the dilapidated condition of the existing building.
The Woden Road site, built in the Victorian-era, has been the EDM Group's national headquarters since 1974 but now lies in the heart of an urban regeneration project that is focused on creating affordable housing.
Mr Ferguson said: "We are having to spend a great deal on the maintenance of the property but we don't feel it is money well spent.
"Besides, the building does not convey the right image of the company - we are a modern business operating in the technology sector with state-of-the-art production facilities and yet from the outside the place looks like a crumbling old foundry."
The EDM Group, which employs another 150 people at operations in Poynton, Blackburn, Aldershot and Bristol, has clients including Avis, BUPA, Lloyds TSB and the West Bromwich and Portman building societies.
It has won seven new contracts worth £2.5 million per annum since the turn of the year. Mr Ferguson said the management team was working closely with the city council's regeneration and environment department to ensure that its plans met the local authority's objectives for the Woden Road area.
Councillor Peter Bilson, (Lab: Bushbury South and Low Hill), cabinet member for regeneration and enterprise, said: "Growth is at the heart of the city's strategy to cement its position as one of the region's strongest economies and EDM's success is an excellent
example of this ambition. I'm delighted that the company continue to choose Wolverhampton as their base of operation and hope that the work we are undertaking with them will ensure they maintain a presence in the city"
The group is scheduled to begin the relocation from April next year.
EDM is one of the UK's leading document management solutions providers, scanning more than 50 million documents per month.
The company said its strength was built on industry-leading technology plus its many years experience in the development and deployment of electronic document management systems.
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