Multi-million pound property investment programme launched in The Black Country
INVESTMENT totalling £24m is to be ploughed into The Black Country economy to help small to medium sized businesses expand or acquire new business accommodation.
Grants will be made available through The Black Country Business Property Investment Programme (BCBPIP), which is being supported with £6.7m from the European Regional Development Fund (ERDF) and managed by the Department for Communities and Local Government.
Contributions from the four local authorities in The Black Country – Walsall, Dudley, Sandwell and Wolverhampton – will be added to the pot, alongside funding from private sector businesses that have been selected to take part in the programme.
The funding will be made available to improve existing business premises and help develop and create new business accommodation.
Communities minister Baroness Hanham CBE said: “Through the Funding Programme £24m of investment will take place in the Black Country area. This grants programme is just one example of how Public Sector money is being deployed to lever in private sector funding to stimulate economic growth.
“Improving existing businesses’ premises and developing new units that will help attract fresh investment to the area is essential to building a prosperous future. New investment brings new jobs and opportunities for local people – a key goal for local growth.
“Together with the Black Country Enterprise Zone approved by the Government, this announcement demonstrates that the Black Country is very much open for business.”
Councillor Adrian Andrew, deputy leader and portfolio holder for regeneration at Walsall Council said: “It’s one of our key priorities to create and safeguard jobs not just in Walsall but across the Black Country.
“Building high quality premises for business is important as it helps stimulate new jobs and investment.
“We’re pleased to be the accountable body on behalf of the Black Country and £6.7m from the Department for Communities and Local Government will help achieve this and could create hundreds of new jobs.”
