Companies in the Bristol Temple Quarter Enterprise Zone are driving forward growth and have played a key role in the Government’s flagship business programme hitting the 15,500 jobs landmark, Communities Secretary Eric Pickles has announced.
Figures released today show that the Enterprise Zone has created more than 1,100 jobs so far, providing a real boost to the local economy and knock-on benefits for the community, including improved infrastructure and new business opportunities.
The Government’s 24 Enterprise Zones have now created more than 15,500 jobs, attracted over 480 businesses and over £2.1 billion in private investment. The growth has also provided a real boost to the UK’s construction sector and supply chain.
Communities Secretary Eric Pickles said:
“Enterprise Zones are now picking up the pace and really starting to deliver for the economy. We’re seeing activity across the country from established sites attracting some of the biggest names in business to derelict sites being brought back to life. That’s because our long-term economic plan is giving businesses the confidence to invest. They know that Enterprise Zones work and are making the most of the top-class incentives and world-class infrastructure on offer. And that’s great news for local economies and communities because it’s these kinds of businesses that have the vision to grow, creating thousands more jobs for hard-working people.”
Bristol Temple Quarter Enterprise Zone is building a reputation for cutting-edge creative, digital and green companies. It is already home to a raft of creative and innovative businesses as well as Bristol SETSquared, Europe’s best University business incubator. PricewaterhouseCoopers has announced that it will be taking space in the recently completed 2 Glass Wharf building. The zone has an ambition to hit 4,000 jobs in its first five years and 17,000 over its 25-year lifespan.
Bristol Mayor George Ferguson said:
“Enterprise Zone continues to flourish. More businesses are being attracted by the discounted business rates, the planned electrification of the London to Bristol rail line and the cluster of innovative and high-tech businesses here. This means we are well on our way to meeting our target of 4,000 jobs by 2017. I am pleased to report excellent progress is also being made on the new arena that will be located in the enterprise zone and will act as a catalyst for further jobs and development in the area. Five shortlisted designs were revealed earlier this month for the 12,000 capacity venue which is on course to open by the end of 2017.”
The Government opened the Enterprise Zones in April 2012 as part of a 25-year project to rebalance the economy, offering tax incentives, simplified planning and superfast broadband to companies.
That vision has provided a major boost to the UK construction sector with work already carried out to redevelop more than 100 hectares of land and deliver more than 500,000 square metres of new or refurbished floor space.