A leading property expert says Coventry and Warwickshire’s commitment to growth has already resulted in attracting a new commercial building that could create between 200 and 400 jobs for the region.
David Penn, the managing director of Shortland Penn + Moore, was part of Coventry and Warwickshire Chamber of Commerce’s meeting with Coventry City Council to discuss the Council’s budget.
Penn said the Council had made it clear that there had to be a reduction in spending but that it was committed to economic growth and he praised the determination of officers and councillors to deliver that growth.
He added that the roadworks for the new Whitley Junction, providing improved access into Whitley Business Park, had helped attract a national company to develop a new property on the business park which has now been put forward for planning.
Penn said: “I know sometimes there is a question of how the Council can pay for roadworks when it is constrained on spending for vital services, but the money to pay for works at Whitley is not from the Council’s coffers.
“The roadworks are being paid for from money drawn down by the Coventry and Warwickshire Local Enterprise Partnership because improving access to Whitley Business Park was seen as strategically important for the region’s growth.
“If those funds had not been bid for and won by the CWLEP, they wouldn’t be available to pay for other services here – they would have gone elsewhere and would be helping another area’s economic prosperity.
“I’m also delighted to see that a further £15.3million has been attracted to the area in this way through the Government’s latest Growth Deal grant announcement, which will see further investment in our economic prosperity.”
He added: “Infrastructure improvements are a great driver for economic success but it is rare that they have such an immediate and direct result. Whitley Business Park has attracted strong interest over the years but now we have a genuine commitment to invest and create hundreds of jobs here.
“It’s great news for Coventry and Warwickshire and I have to say the meeting with the City Council at the Chamber reaffirmed my view that they are doing a fantastic job for the City even in the face of budgetary cuts.”