14 August, 2008
Bolton Council is celebrating the seventh anniversary of the Economic Development Zone (EDZ), with the news that more than £213m of public and private sector investment has been invested in transforming the west of the borough.
The Bolton Economic Development Zone, founded in 2001 with GBP 9.6 million from the European Regional Development Fund, has generated over GBP213 million of public and private sector investment over the last seven years. In particular, there has been major success in growing financial sector business in Bolton by 185%. Both the Royal Bank of Scotland and AXA have offices in the centre of the EDZ in Middlebrook which is also home to one of the largest sustainable leisure, sports and retail schemes in the UK.
Since the inception of the EDZ, 25 hectares of industrial land has been transfored in productive use creating 4000 full time jobs in the process
Councillor Akhtar Zaman, Bolton Council’s Executive Member for Regeneration, said:
“We are very pleased with the success of the EDZ, which has fulfilled all the targets it set out to achieve. It has made a real difference in narrowing the gap between the most and least well off by increasing employment opportunities. We will still continue to include the EDZ in our development strategy and by using Business Bolton we will be able to access a wider market, more cost-effectively. The success of the EDZ is only the beginning as Bolton is expected to generate 20,000 new jobs, and up to £1bn in investment over the next 10 years.”
For more more details on the Greater Manchester City region Economic data