Development agency 'opens pot of jobs'
30/09/2008(15:00)
The Midlands development agency has received more than a dozen applications by commercial firms vying for a chunk of its multi-million pound funding pot intended at boosting the sector, which could create construction jobs in the region, it has been reported.
Advantage West Midlands (AWM) launched the £48 million gap funding package last week and it is thought the scheme will trigger some £192 million of new development over the course of the next five years, according to the Birmingham Post.
"We are putting this money in because the industry desperately needs it at the moment and it is important that we keep the sector ticking over," an AWM spokesman told the publication.
Mick Laverty, chief executive of AWM, said: "Gap funding has a positive impact in the short term, providing valuable construction jobs at difficult developments which would otherwise be unviable to the private sector
The announcement was made at a regional reception for the world's biggest commercial property show MIPIM 2009 which will be held in Cannes next March.
In other construction jobs news, it was reported by the Newcastle Journal last week that a contract to build three new schools in the north-east of England has secured 75 construction jobs for the building work.
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