The Government is planning to extend the Birmipngham city centre Enterrise Zone to cover the whole of the development zone around the HS2 scheme.
The extension would be a huge boost for the region and a key enabler of the plan to further drive local growth, create new jobs and boost economic prosperity.
Since the launch of the national Enterprise Zone (EZ) initiative in 2011, the Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP), in partnership with Birmingham City Council, has been pioneering approaches to unlocking development, stimulating investment and delivering jobs.
This proactive approach to enabling development has seen 938 jobs, 60,700 sq metres of floorspace and £203m of private sector investment attracted to the EZ since 2011.
A further 2,000 jobs and 70,000 sq metres of floorspace will come forward in 2015/16. Major long term development schemes are also being boosted as a direct result of the EZ with work on the £500m Paradise development, which will see 10,000 jobs and 170,000 sq metres of floorspace, commencing in 2015.
Public transport improvements are also being targeted as part of the EZ Investment Plan, with the £37.95m extension of the Midland Metro tram system to Centenary Square and the £30m city centre public realm improvement programme.
With the EZ extension in place exciting new regeneration and development schemes will be triggered. The location of the EZ extension, to include the Birmingham Curzon development zone, will provide a catalyst to unlocking development, attracting significant inward investment and generating additional jobs.
By extending the EZ to cover the Birmingham Curzon area, further commitments will be made to delivering major investments in local infrastructure which could see more than 50,000 jobs and £1.7bn of private investment attracted to the region.
Liz Peace CBE, chair of the Birmingham Curzon Regeneration Company Shadow Board, said: “The extension of the Enterprise Zone in terms of both time and geographical coverage will be hugely valuable for us in enabling investment in infrastructure and unlocking growth in the Curzon area.
“We will be able to make long term plans that will support further local investment across a much wider area – and that will be really important as we seek to maximise the local economic benefits from High Speed 2.”