The £582m plan to create new UK economic powerhouse
Plans to create a new economic growth zone in the West Midlands which is tipped to provide a £582m boost to the UK have been revealed.
Land on the Wolverhampton/South Staffordshire border has been earmarked for ‘The Central Edge’ project while 14,700 jobs could be created.
According to project leaders, the scheme would include 16.4 million sq ft of development land and could deliver a combined £582m in gross value added (GVA) to the UK economy.
Plans for the zone, slated for land behind the i54 business park, have been drawn up by City of Wolverhampton Council, Staffordshire County Council and South Staffordshire Council and revealed at real estate conference UKREiiF in Leeds.
The business park is currently home to Jaguar Land Rover’s £500m engine manufacturing facility.
Councillor Chris Burden, City of Wolverhampton Council cabinet member for city development, jobs and skills, said: “Central Edge will be a transformational economic growth zone across Wolverhampton and Staffordshire.
“It is a once in a generation proposition building on the success of the UK’s most
successful enterprise zone, i54.
“Our vision for growth in green innovation and advanced manufacturing encompasses the multitude and breadth of opportunities across this new economic growth zone.
“The Central Edge will be an international exemplar area for innovation, green economy, advanced manufacturing and logistics, delivering good transformative growth at scale and pace and creating thousands of jobs.”
Economic plans a ‘huge boost’
Martin Murray, Staffordshire County Council’s deputy leader and cabinet member for economy and skills, added: “Growing the economy and creating good jobs for local people is a key priority for the new leadership and we are committed to working with partners to deliver real benefits for businesses and residents.”
South Staffordshire Council corporate director place and communities, Annette Roberts, said: “South Staffordshire Council are delighted to be at UKREiiF promoting The Central Edge, located in thriving South Staffordshire and Wolverhampton.
“This project will be a huge boost to the local and regional economy building on the success of i54 and furthering innovation in the green economy, advanced manufacturing and logistics, creating sustainable growth and quality jobs for our communities, and supporting business.”
The likes of University of Wolverhampton, Logistics Capital Partners and Indurent are expected to help secure further investment into The Central Edge from investors, developers, government and occupiers.