More than a quarter of jobs created in enterprise zones since they were launched in 2012 are in the West Midlands.
Birmingham’s city centre enterprise zone has seen 1,200 jobs created since it was established in April 2012, while the Black Country has attracted more than 2,000 posts.
Figures released today show the Government’s 24 enterprise zones have created a total 12,530 jobs, attracted 434 new businesses and generated over £2 billion worth of private investment.
Communities Secretary Eric Pickles said Birmingham’s zone was playing a key role in helping transform the city centre into the country’s next financial centre.
He said: “Birmingham’s enterprise zone is really starting to pick up steam, transforming the city centre and creating more than 1,200 jobs. This is just the start and I know the ambition and vision is there to firmly put Birmingham on the map as the country’s next financial centre. It’s further proof that our enterprise zone programme is on track, creating thousands of jobs, attracting billions in investment and driving forward local economies.”
He added: “The Black Country Enterprise Zone is a world-class site and a Great British success story. It’s gone from strength to strength since it was granted enterprise zone status, attracting new businesses and creating more than 2,000 jobs.”
The ambition for Birmingham’s enterprise zone to create 40,000 jobs over the next 25 years, providing a £2.8 billion annual boost to the local economy.
Chris Webster, board director for the Greater Birmingham and Solihull Local Enterprise Partnership with responsibility for the enterprise zone, said: “This announcement is great news in that it clearly demonstrates that the enterprise zone is gaining momentum and delivering on our plans and all the investment designed to generate jobs and growth.
“In July this year we announced an extension to the EZ investment plan from the original figure of £128 million to £275 million, with the long term goal of creating 40,000 new jobs. In addition, the plans have been designed to generate a further £2 billion for the local economy and create 1.4 sq metres of floor space and 26 city centre sites.
“The arrival of HS2 is also providing some fantastic opportunities to create growth for the city and in line with this, an initial £30 million is being provided to kick-start regeneration activity at Birmingham Curzon, helping to accelerate growth ahead of the arrival of HS2.”