HS2 Jobs and Growth Boost Birmingham

Posted by lepadmin - July 21, 2014 - Newsroom, Regional Growth Fund, Strategy For Growth, Transport - No Comments

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Birmingham chosen as location for the HS2 Construction HQ, creating 1,500 jobs

Transport Secretary Rt Hon Patrick McLoughlin MP, has announced the launch of a pioneering regeneration body in Birmingham that will drive local economic growth around the landmark HS2 city centre terminus station, Curzon Street. The Birmingham Curzon Regeneration Company will lead the development of over 140 hectares of land around Curzon Street in the heart of Birmingham city centre.

Redevelopment set to deliver 14,000 jobs and a £1.3 billion boost to the local economy

The redevelopment will create 14,000 jobs, 600,000 square metres of new employment floorspace and 2,000 homes, contributing £1.3bn a year to the local economy. The establishment of the regeneration body represents a bold and new approach to driving local economic growth, in what is a major transfer of power away from central Government. The body will be funded by the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP), the City Council and HS2 Ltd. The DfT and transport body Centro will also sit on its board. To accelerate the regeneration of the Curzon Street site, the area’s Growth Deal, the agreement which sees central government funds allocated to local projects, will deliver a further £140m investment to extend the Midland Metro.

Regeneration company will lead the redevelopment around Curzon Street, Birmingham’s HS2 terminus

The extension will bring tram services into the heart of the Birmingham Curzon area and link the HS2 terminus directly into the local transport system. Additionally, the GBSLEP are also making a substantial investment, with £30m committed to support development activity in the Birmingham Curzon area. And Birmingham has also announced it has been chosen as the site for the new HS2 Construction HQ, which will be home to the engineers and designers who will put together the detailed construction plans for the track, stations and signalling. The new headquarters will support 1,500 jobs – the majority of which have been created as a direct result of the investment.

Transport Secretary Patrick McLoughlin said: “We are committed to seeing HS2 delivered and maximising the local economic impact that this major piece of national infrastructure will bring. The establishment of the Birmingham Curzon Regeneration Company demonstrates that the formation of a strong partnership between local and national bodies can be a real force for driving growth. The decisions to locate the HS2 Construction HQ in Birmingham and to support the extension of the Midland Metro reflect the confidence in Birmingham and a desire to support the rebalancing of the UK economy”.

HS2 Chairman, Sir David Higgins said: “Today’s announcement is a demonstration that HS2 is now powering forward. In deciding to locate out Construction HQ in Birmingham, we are supporting both the city’s plan to extract the full, local, economic potential of HS2, and the drive to rebalance the UK’s economy towards its regions. “It is essential that power is devolved from London, to the regions, who must play a key role in delivering HS2. The Birmingham Curzon Regeneration Company is just the kind of locally driven body that will help ensure the successful completion of HS2.”

Sir Albert Bore, Leader of Birmingham Council said: “Since the industrial revolution, Birmingham has been a national capital for engineering, so it is only natural that the HS2 Construction HQ be based in Birmingham. “HS2 is an important step in rebalancing the country’s economy, supporting growth in the regions and encouraging more inward investment into the City. “It is essential that we have the power to make local decisions, and the Regeneration Company will allow us to realise the full potential and benefit of HS2 for this area.”

Allocation of £30m of funding by the Greater Birmingham and Solihull Local Enterprise Partnership to kick-start development activity

Andy Street, Chairman of the GBSLEP said: “Greater Birmingham is helping lead Britain’s economic recovery, showing the rest of the country the road ahead in areas such as manufacturing, exports and digital business. But we have even more ambitious plans for the future, and HS2 is integral to that. That’s why I’m delighted to announce that the Greater Birmingham and Solihull LEP will be investing £30 million to unleash and unlock the potential of Birmingham Curzon. “The regeneration is a clear signal of Greater Birmingham’s ambition and abilities. That is why the LEP is fully behind the regeneration and providing funding, because we know the most successful regeneration projects are led by local bodies.”

Waheed Nazir, Director of Planning and Regeneration at Birmingham City Council said: “The announcements today show that the city is driving forward with its regeneration agenda. The decision to locate the HS2 construction HQ in Birmingham demonstrates the strength of the city centre as a prime office location. As confidence returns to the market this decision will kick-start further investment in the City’s office stock helping to fill the gap in supply and meet the rising demand for high quality office space in the city centre.”