New enterprise zone could mean 7,000 extra jobs
ANEW enterprise zone in the West Midlands could deliver up to 7,000 new jobs. The the Brierley Hill enterprise zone in Dudley hopes to attract high tech and manufacturing companies with an estimated boost to the local economy worth as much as £590 million each year.
It will be called ‘DY5 – Dudley’s Business and Innovation Enterprise Zone’ and go live in April.
The zone covers 172 acres at Blackbrook Valley and Pensnett, with new and expanded businesses located there set to benefit from business rate relief worth up to £275,000.
All business rate growth in the zone will also be kept by councils and the local enterprise partnership to reinvest over 25 years.
The zone will also offer high-tech office space in the Waterfront complex next to the Merry Hill shopping centre and benefit from planned improvements to transport Birmingham city centre.
Sajid Javid, Communities Secretary and Bromsgrove MP, visited Brierley Hill to officially launch the enterprise zone this week.
He said: “We are determined to deliver high-tech and skilled jobs across the country, helping to create an economy that works for everyone.
“So I’m delighted to launch this new enterprise zone in Brierley Hill, which will help secure as many as 7,000 jobs for people right at the heart of the Midlands Engine. links to
“I’ve seen for myself the real potential this site has and, with cutting edge office facilities, it will help attract the brightest and best of industry.”
Cllr Khurshid Ahmed, Dudley’s cabinet member for planning and economic development, added: “We knew when we submitted our bid in July 2016 that we had a strong case to offer real potential and make a big difference in Brierley Hill, an area which has strategic significance for the borough and beyond.
“We know the area is already set to have a significant boost when the Metro extension rolls in but, now we have the green light for DY5, it will significantly strengthen our economy, increase the number of jobs in the area and boost our reputation as a place to do business.”
Other enterprise zones in the region include Birmingham city centre and elsewhere in the Black Country covering parts of Wolverhampton and Walsall.
When DY5 launches, it will be one of up to 48 zones across the country created since their inception in 2012.