Provisional go-ahead to bring forward 70 hectares of land for Worcester Technology Park (announced today 12 April 2011) is a huge tonic for the county’s economy, says Dean Attwell, business board member of Worcestershire Local Enterprise Partnership (Worcestershire LEP).
The proposed scheme for land east of the M5 at J6 is one of the conditional winners to benefit from investment in the first bidding round of the government’s £1.4bn Regional Growth Fund.
Mr Attwell, who is managing director of Oakland International, said: “The £17.8million pledged will potentially spearhead phase one (52ha) of the scheme. This will include a major relocation expansion of Worcester Bosch costing £234.6million that will ultimately result in the creation of up to 1,700 jobs over the next 5 to 10 years.
“Importantly, the economic and business benefits locally are clear. It is great news for local businesses looking to expand here and for Worcestershire to attract new and diverse companies to the county.”
The scheme – which was put forward by Worcestershire County Council, Worcester City Council, Wychavon District Council and Advantage West Midlands with support by Worcestershire LEP – now has to pass through a due diligence process before receiving a grant.
Worcestershire LEP is led by private sector businesses in partnership with the public sector. Its task is to shape the best business environment for the county, stimulate growth of the local economy, encourage inward investment, boost enterprise and job creation, and actively promote Worcestershire as a great place to invest and work.
Covering Worcester, Redditch, Malvern Hills, Wyre Forest, Wychavon and Bromsgrove, Worcestershire LEP has supported six bids to the Regional Growth Fund including the new site for Worcester Bosch, expansion of the Science Park in Malvern and a Business Park in Evesham.