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West MidlandΓÇÖs Enterprise Zone Approval Could Deliver 46,000 New Jobs

West MidlandΓÇÖs Enterprise Zone Approval Could Deliver 46,000 New Jobs

Enterprise Zones approved in the West Midlands hope to create up to 46,000 jobs spread across locations in Wolverhampton, Hereford and Nuneaton according to the Birmingham Mail.

The government scheme has been introduced to help kick start the economy and support new and growing businesses. David Cameron described the zones as “trailblazers for growth, jobs and prosperity throughout the country”. Adding, “We are determined to do everything we can to make Britain the best place in the world to start and grow a business. Enterprise zones are a major step towards delivering this, cutting business taxes, easing planning restrictions and giving business the tools they need to invest and expand.”

Whilst the chosen locations can look forward to regeneration plans with a range of benefits including business tax breaks and superfast broadband, Professor John Bryson from the University of Birmingham said it’s necessary to ensure that the new jobs aren’t displacing others elsewhere, commenting that “Enterprise zones have a mixed history of success” and that the “most successful have targeted manufacturing,” with “those based on the service sectors tending to pull in capacity from elsewhere”

Nuneaton’s new Enterprise Zone status at Warwickshire’s MIRA Technology Park was welcomed by MIRA’s CEO describing the classification as helping the area to become “a very commercial and compelling location, particularly for overseas companies looking to establish a European research and development centre.”

Chancellor, George Osborne, said “for too long there has been an over-reliance on the City (London) and it is time for us to help every part of the country to grow and realise its potential.”

“It is vital that we create balanced economic growth across the country.”

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Author: | August 26, 2011 | 0 Comments

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