WORKING...BUSINESS & EMPLOYMENT
The Labour Group knows how crucial it is to attract new business investment to the town and encourage small businesses to set up here. Job creation, employment and economic development are amongst are top priorities.
Employment
In terms of employment, around 1200 new jobs have been created in the town centre since 2002 and the percentage of working age people in employment has risen from 59% that year to over 65% in 2005. Moreover, the number of JobSeekers Allowance claimants has dropped from 7% in 2000 to around 4.5% in 2006. However, the unemployment rate is still almost double the national average and we will continue to do all we can to ensure that everybody in the town has the opportunity to find employment.
Initiatives such as the Network of Intermediaries, a mechanism for organisations to co-ordinate the delivery of employment services and Hemlington Works, a project offering local people a route into jobs, show that a real impact is beginning to be made. Another example worth highlighting is the Enterprise Academy, a resource for 11 to 19-year-olds to learn more about the business world.
Small Businesses
Because of these and other measures, small businesses are starting to flourish in Middlesbrough. The Council handled 434 new business inquiries, providing support to 358 businesses and participated in the creation of 259 new jobs in 2005/06. It also helped around 700 people into employment. The regeneration of the town is geared towards economic development and many initiatives will bring with them additional jobs for the people of the town.
Redevelopment
For example, the redevelopment of Greater Middlehaven will turn it into a destination of international stature for work, leisure and living. Combined public and private investment of £500m could provide up to 3,000 new jobs, new homes (as set out above), more than 800,000 square feet of commercial office development and significant provision for hotels, bars and restaurants. The Queens Area, Exchange Square will become a creative industries quarter called BOHO. Progress is well under way, with the first office development completed, and the aim of the entire project is to establish Middlesbrough as a creative, dynamic, forward-thinking town.
Going hand-in-hand with this is Hemlington Grange, whose future regeneration will include more than 50,000 square feet of employment floorspace and there are investment plans in place to redevelop both Riverside Park and Cannon Park into a high-quality enterprise zone and a retail destination of note respectively. In addition, the Council has set itself a DigitalCity objective, aiming to create 300 new jobs and 130 new companies geared around digital media and technology, in conjunction with Teesside University, by 2010. Throughout all regeneration and housing plans, the provision of employment opportunities is essential.