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[04 NOV 98] COVENTRY & WARWICKSHIRE PARTNERSHIPS LTD PRESS RELEASE
Government Aid Sought For Area's Businesses

Coventry & Warwickshire Partnerships Ltd, the areas regeneration agency, has presented the case to Government for retaining Assisted Area status for Coventry, north Warwickshire and north Solihull.

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".

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NOTES:

  1. 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.
      
  2. 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.
     
  3. 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
 

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CWN / Business / Coventry & Warwickshire Partnerships Ltd / Press Releases / 4 November 1998

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