Three sites in Birmingham Enterprise Zone to benefit from £104m Government fund
THREE sites in Birmingham City Centre’s Enterprise Zone have been selected for investment as part of a £104m Government funding initiative.
The funding is being made available through the Local Infrastructure Fund, operated by the Department of Communities and Local Government.
The three sites to benefit are: Masshouse, Arena Central and Argyle Works. They are among the 18 projects across 13 EZs to have been earmarked for a share of the funding pot, which is being administered by the Homes and Communities Agency.
The HCA acquired the land portfolio of Advantage West Midlands, when the regional development agency was scrapped by the Coalition.
The Masshouse scheme will see a high-quality public realms work and public car parking developed in order to facilitate major city centre office employment space.
As part of the Arena Central scheme, funding is being sought to demolish the existing buildings on the site, including the registry office, exhibition hall and TV studios, in addition to a new pedestrian link between Broad Street and Holliday Street.
The Greater Birmingham and Solihull LEP and Birmingham City Council has also bid for support to convert Argyle Works – a warehouse in Great Barr Street – into a data facility to act as gateway to the Digbeth creative area.
Chris Webster, GBSLEP Board Director with responsibility for the Enterprise Zone, said: “The news that we have secured outline approval is another sign that things are really happening in the EZ.
“Only three weeks ago, Birmingham City Council was successful in securing support to undertake a £10m project to improve the road network around key EZ sites.
“This follows on from the launch of the prospectus in February by the Chancellor of the Exchequer and the approval of more than £60m to transform infrastructure in the Westside part of the city to help unlock the Paradise Circus development.”
He said the LEP was keen to keep up the momentum and see more funds pledged to the EZ due to its unique ability to create wealth for the city and the wider region.
The Enterprise Zone is one of the flagship schemes for the GBSLEP, having the potential to create 40,000 new jobs and boost the economy by £2bn a year.
It comprises a network of 26 sites, covering 68 hectares in seven clusters identified as offering significant growth opportunities.
The EZ project officially went live in April, meaning the GBSLEP can now retain the uplift in business rates from companies moving into the zone.
This will enable the LEP to further invest in infrastructure, business support, access to finance and employment and skills projects right across its area.
