Nottingham is the “fastest firing city in the UK economy” according to Prime Minister David Cameron, who yesterday visited the MediCity facility at the city’s Enterprise Zone.
The city has also previously been dubbed “the bellwether of the UK” by Bank of England Governor Mark Carney, and recent news has placed the number of new business start-ups in the city within the top ten for the country.
The comment comes hot on the heels of the city’s Annual Review of its Growth Plan – the public and private sector blueprint that is redefining Nottingham’s economic priorities.
The review found solid progress in areas such as job creation and financing for new business with 1,196 jobs created as a direct result of initiatives in the Growth Plan, £9.6m of financing committed to local business and a 21% fall in residents claiming Jobseekers Allowance.
In total, £58.9m of funding has been leveraged for the city, supporting a further £205m of investment for projects such as the recently-announced Bioscience Expansion, the redevelopment of the Southern Gateway and the establishment of a city based Skills Hub to connect city residents and employers.
And the Nottingham Enterprise Zone is a central part of the city’s new vision. The four sites comprising the Zone will offer over 60 hectares of technology-led and residential development space, all connected to the city’s two world-leading universities and the city centre by the extended tram network.
In addition, The University of Nottingham was recently named as a pilot site nationally for the creation of a University Enterprise Zone, building on the institution’s long heritage of working closely with industry to promote knowledge transfer.
The pace of business development in Nottingham has been accelerating, as the fruits of the city’s Growth Plan start to show. And with a large talent pool, new investments in infrastructure, development opportunities and much lower start-up costs than other major cities- it has a lot to offer to business.
The city recently launched the third edition of its business support prospectus, a document that pulls together all of the funding, training and support available to small business owners. The support is all available via www.growingnottingham.com
The Nottingham Enterprise Zone is comprised of Alliance Boots, Adams Medical Park, located next to the Queens Medical Centre and The University of Nottingham, Nottingham Science Park, home to a successful cluster of low-carbon businesses, and Beeston Business Park.
Growing Nottingham is a suite of business support products made available by Nottingham City Council and partners, in response to the Nottingham Growth Plan. More information can be found at www.growingnottingham.com
Businesses wishing to locate to the Enterprise Zone or the city of Nottingham are offered a free of charge, confidential support service by Invest in Nottingham. To find out more, visit www.investinnottingham.com
