Jobs boost during five-year plan for business district across Dudley
Almost 1,400 jobs will be created in five years as part of an enterprise zone that launched last month, a report reveals.
Dudley’s Business and Innovation Enterprise Zone, known as DY5, was established in Brierley Hill on April 1.
The zone is on 170 acres of land at Blackbrook Valley industrial estate and Pensnett, as well as office space on the Waterfront. It was stated at the time of its launch that the scheme will see 7,000 new jobs created over 25 years.
And now latest predictions, from Black Country Consortium chief executive Sarah Middleton, have revealed that 1,391 jobs will come to the zone in the first five years, and 71 businesses will move to the site.
The Government-supported initiative attracts firms by offering up to £55,000 per year business rate discount over five years.
Other benefits include a Metro line to be extended to Brierley Hill by 2023.
Alan Lunt, Dudley Council’s strategic director for place, said: “With all of the benefits that DY5 brings, as well as the significant amount of regeneration taking place and infrastructure investment, there has never been a better time to relocate your expanding business to DY5 and the borough of Dudley.”
The Waterfront in Brierley Hill offers office space, as well as access to nearby industrial estates.
Prior to the Business and Innovation Enterprise Zone, there was a Dudley Business Investment Zone at the Waterfront.
But the scheme, which lasted two years, only had one firm sign up for the reduced business rates. It was hoped it would boost the half empty Waterfront development.
Firms that quit the Waterfront included Virgin Media. A former office block called Point North was turned in to flats.
