Hi-tech corridor is commended
A hi-tech development initative linking the Black Country and Telford has come in for high praise in an independent report.
The Wolverhampton Telford Technology Corridor (WTTC) was described as a "successful vehicle for delivering investment" across the Wolverhampton, Black Country and Telford areas by DTZ Pieda Consulting, which carried out a review of its activities between 2003 - 2006.
The corridor scheme has helped to create new businesses and jobs by providing practical assistance and high quality business accommodation to local firms and is led by the University of Wolverhampton and funded by Advantage West Midlands.
Projects worth £27 million have been delivered during Phase I of the corridor initiative, of which £12 million came from Rover Task Force or Advantage West Midlands funding.
Projects in Wolverhampton include the Creative Industries Centre and the SP/ARK project at the Wolverhampton Science Park and the Advanced Engineering Cluster which assists companies introduce new technologies and products.
Mike Norris, corridor director, said: "Across the three Midlands corridors the Wolverhampton Telford HTC performed very well with 70 per cent of all the jobs created or safeguarded by the three HTCs; 46 per cent of the new businesses created; and 30 per cent of the business assists.
"The majority of projects have met or over achieved their targets and this has been achieved with very low administration and management costs at less than one per cent of total spend, which offers very good value for money".
| Hi-tech corridor is commended
The Wolverhampton Telford Technology Corridor (WTTC) was described as a "successful vehicle for delivering investment" across the Wolverhampton, Black Country and Telford areas by DTZ Pieda Consulting, which carried out a review of its activities between 2003 - 2006.
The corridor scheme has helped to create new businesses and jobs by providing practical assistance and high quality business accommodation to local firms and is led by the University of Wolverhampton and funded by Advantage West Midlands.
Projects worth £27 million have been delivered during Phase I of the corridor initiative, of which £12 million came from Rover Task Force or Advantage West Midlands funding.
Projects in Wolverhampton include the Creative Industries Centre and the SP/ARK project at the Wolverhampton Science Park and the Advanced Engineering Cluster which assists companies introduce new technologies and products.
Mike Norris, corridor director, said: "Across the three Midlands corridors the Wolverhampton Telford HTC performed very well with 70 per cent of all the jobs created or safeguarded by the three HTCs; 46 per cent of the new businesses created; and 30 per cent of the business assists.
"The majority of projects have met or over achieved their targets and this has been achieved with very low administration and management costs at less than one per cent of total spend, which offers very good value for money".
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