Black Country shortlisted for Government Enterprise Zone cash
THE Black Country has been shortlisted as one of 12 Government Enterprise Zones which will share a pot of £100m to support business infrastructure development.
And an additional £15m has been allocated to establish new University Enterprise Zones in the eight main UK cities including Birmingham.
Communities Secretary Eric Pickles said: “As part of our long-term economic plan, we are backing business and enterprise right across the country, helping town centres and local industries to prosper, and building a stronger economy.
“This money for infrastructure will transform acres of Enterprise Zone land and build a stronger, more competitive business environment that will create up to 3,000 jobs for hardworking people across the country.”
Lord Deighton, Commercial Secretary to the Treasury, said the investment was needed to supply the enhanced power capabilities and roads network needed to attract advanced manufacturers to sites such as the i54 – part of the Black Country’s Enterprise Zone.
He said scheme to clean up the contamination of the land from decades of industrial pollution would also help to improve the appeal of the site and help to develop a supply chain which would feed into the main i54 complex.
The business park is home to Jaguar Land Rover’s £0.5bn new engine plant together with new factories for aerospace firm Moog and food testing business Eurofins. Walsall-based stamp printer ISP has also committed to a new 70,000 sq ft manufacturing facility at the site.
The 12 Enterprise Zone bids which have been shortlisted are intended to complete critical ‘nuts and bolts’ infrastructure that will turn dormant sites into prime economic land, attracting new businesses and jobs.
They are Harlow, Humber, Leeds, Sheffield, Discovery Park in Kent, Oxford, Daresbury, Alconbury, London’s Royal Docks, the Black Country, Nottingham and the Solent.
Across the country, the funding for road building, refurbishment, utility supply and land clearance will mean that 3.5m square metres of land is brought back into use and 124,000 square metres of new commercial floor space will be created by 2015.
In addition 10km of new road and two new bridges will be constructed, reducing congestion for residents and increasing the access to new Enterprise Zone sites for business.
The £15m university enterprise zone funding – which universities can bid for – is intended to lead to the development of new business spaces within universities.
These spaces will host a range of start-up, high-tech companies, that can benefit best from universities’ expert knowledge.
