Posts tagged jobs creation
Lambeth Borough Council has granted planning permission to Downing Developments to build a 32-storey student accommodation scheme in Vauxhall, South London, which will boost the building industry and create new jobs.
The development will see the building of 553 student accommodation units, a 25-metre swimming pool and leisure facilities which will be open to the public. The scheme will boost local businesses and benefit the construction sector as well as create new jobs in the trades.
The architect for the scheme is Feilden Clegg Bradley Studios. Downing is planning to start work on the site immediately as the scheme is set for completion by 2014.
Downing development director, Paul Houghton said: “The scheme represents a significant investment in the area, not only through the £4.5m swimming pool and leisure facility, but also through the in excess of £1.5m of contributions that will benefit the local area.
“The proposals will redevelop a brownfield site and provide a major boost to local businesses through the increased spend that the students will deliver.”
Downing submitted the planning application in November 2011 following consultation on draft plans with the local community. Following a public exhibition held in September 2011, the size of the swimming pool was increased from 20m to 25m in response to residents’ feedback.
The Business Secretary, Vince Cable, has confirmed plans to create government backed ‘business bank’ which will help companies to invest and create new trade jobs.
Vince Cable’s new institution includes a series of collaborative strategies between businesses and government that are forecast to advance manufacturing and boost the trade industry.
Cable outlined his plans, committing to a long term, strategic partnership that will give businesses clarity about where the Government will be concentrating its efforts.
Speaking at Imperial College, London, Business Secretary Vince Cable said: “Our first part of that plan is lifting the barrier that poor access to finance puts on growth. By helping firms to invest capital, businesses expand, and create jobs.
“But I am also setting out a clear and ambitious vision, a commitment far beyond the usual political timescale that will continue to bear fruit decades later.
“It will give our businesses certainty, allow them to make their own plans, and know that the full weight of Government is behind them. We will work in a strategic partnership with industry, focusing our support on specific sectors. This is our commitment to growth in action.”
The speech sets out a number of other actions including:
- Creating a new institution to help companies invest in capital and drive their expansion. The scale and modus operandi of the institution are still under discussion, but it could operate through alternative providers such as the new challenger banks and non-bank lenders. Not only would this boost their lending capacity, but would also corral existing provision such as co-investment and guarantees to support business expansion.
- Developing a series of collaborative but challenging sector strategies in advanced manufacturing, knowledge-intensive traded industries, and the enabling industries. This will include building strategic partnerships with industries and targeting support for them to help realise their substantial growth prospects.
- The Business Secretary announced that 34 bids had been successful in the first round of the Employer Ownership pilot scheme securing £67 million of public funding and generating £98 million in private investment, making sure that employers can access exactly the sort of skills they need. Ensuring our world class skills policy is linked closely to the industrial strategy, in order that industry gets the skills they need to continue growing. This objective underpins the employer ownership pilot scheme where employers have been putting together radical plans to develop their own training programme.
- Accelerating the journey from pure academic research to a commercial product being brought to market to help boost ground-breaking technologies of the future. The Government has already made £180 million available to support the commercialisation of innovations in the life sciences sector and building on this new approach, there will now be a new Innovation and Knowledge centre in Synthetic biology to explore the opportunities this sector presents.
- Recognising Government’s role as a customer and developing a more intelligent partnership with its own supply chain by reforming procurement to make sure that businesses have confidence to take long-term investment decisions.
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The Building Construction Industry will receive an £80 million boost as the government approves Hinckley’s regeneration scheme which will be a major source of work for contractors and people in the building engineering sector.
The news about the significant redevelopment of Hinckley’s town centre, Leicestershire, comes after 12 years of discussions about the future of the project.
As reported on BBC News today, the regeneration scheme will build 24 new retail and restaurant units, 111,000 square foot Sainsbury’s store and a new bus station.
Hinckley & Bosworth Borough Council welcomed the decision of the government to give the green light for the project which will encourage future economic growth and create new jobs.
Stuart Bray, the leader of Hinckley & Bosworth Borough Council, said: “This is fantastic news for the town and means we shall soon start to see things happening. The exciting new shopping and commercial scheme will give the town centre a further boost, thanks to a superstore, cinema, fashion shops, family restaurants and a major new shoppers’ car park alongside a re-designed bus station. We are now looking forward to working with the developer on the construction programme.”
Although, an exact date wasn’t given for the start of the projects, the two developers behind the scheme, Wilson Bowden Developments and Ashcroft Estates, are to complete construction work in 2014.
Director for the joint venture, Tony Baker, said: “This is a crucial step in securing the delivery of this important project for the future of Hinckley. It will not only improve the retail provision in the town centre but provide much-needed new employment. Whilst there are a number of steps to be completed before work starts on site we are now able to move forward with confidence knowing that the entire site can be delivered.”
What is your reaction to the £80 million regeneration scheme for Hinckley? How beneficial the development is going to be for you and your business? Share your thoughts by leaving a comment below: