NOV 98] COVENTRY & WARWICKSHIRE PARTNERSHIPS LTD PRESS RELEASE
Government Aid Sought For Area's Businesses
& Warwickshire Partnerships Ltd, the areas regeneration agency, has presented the case
to Government for retaining Assisted Area status for Coventry, north Warwickshire and
Richard Drew, CWP's Chairman, who presented to the
case the Government said:
"There can be no doubt about the importance to
Coventry & Warwickshire of the need to keep Assisted Area status and the resources for
investment in businesses and jobs that it provides. While our economy has strengthened
over recent years there is still a need for additional help to secure inward investment
and help firms grow in Coventry, northern Warwickshire and north Solihull".
The case for Assisted Area Status has been made through CWP
following joint working by the City, County & Solihull Councils and The Coventry &
Warwickshire Chamber of Commerce, Training and Enterprise over the summer. The case is
supported by the area's major companies. All recognise the importance of continued
business investment and job creation if the northern part of the area's economy is to
become as strong as that in south Warwickshire and south Solihull. The case is made on the
basis of the relative levels of unemployment, the area's over-dependance on motor
manufacturing and because of the legacy of coal mine closures.
Trevor Cornfoot, CWP's Manager noted that:
"This is a very positive move by all agencies
concerned with the future of our local economy. We have an Economic Strategy that
identifies the north of the area as a priority. This request for continued Assisted Area
status recognises this area and identifies adjacent north Solihull as having similar
problems which we wish to resolve together. We have also detailed in the bid the major
development sites where new jobs can be created".
- The Assisted Area proposed to the Government is all of
Coventry, Nuneaton & Bedworth, & North Warwickshire Council areas and five wards
in North Solihull (Smith's Wood, Kingshurst, Fordingbridge, Chelmsley Wood and Bickenhill)
and four sites just outside these areas - Ansty, Baginton, Peugeot plant at Ryton and Land
Rover plant in Solihull.
- Assisted Area status means that private firms can obtain
Government grants for job-creating investments. Over the five years 1993-97, 155 such
grants were given in Coventry, Warwicskhire and Solihull, amounting to nearly £88m which
created nearly 6,000 jobs and safeguarded a further 7,000.
- Coventry and Warwickshire Partnerships Ltd (CWP) was created
in 1994 to bring together a range of private, public, education and voluntary
organisations, and ensure that they work together for a stronger local economy. CWP
published the area's second Economic Strategy in March 1998. It also manages £29 million
of Single Regeneration Budget resources. It seeks to secure coordinated action on a range
of economic issues. Retaining Assisted Area status is seen as crucial to the continuing
restructuring of the areas economy.
MORE INFORMATION: Trevor
Cornfoot, CWP 01203 230166