Bristol is recognised across the UK as one of the most economically strong and resilient cities in the country. By making the changes proposed today, the council will help ensure that our city improves its economic performance more quickly and successfully than others.
Two examples of how the council is helping to promote the local economy are:
- The area around Temple Meads station has recently been awarded Enterprise Zone status by the UK government. From April 2012, the growth in business rates will be retained to invest within the zone which will help attract new businesses.
- The UK government recently introduced the “Growing Places Fund” to help stimulate economic growth. The Bristol area, through the West of England Local Enterprise partnership has been awarded £11m which will also help the city to stave off the impact of low economic growth.
In addition Bristol has secured European funding of £8m which can be used to provide investment in the most deprived parts of the city and we are still confident of securing significant European funding to support investment in a comprehensive programme to improve energy efficiency.
