Up to 10,000 new jobs could be created in the county

By Tim Clarke Friday 09 November 2012 Updated: 09/11 10:40

UP TO 10,000 new jobs could be created across Worcestershire in the next five years as part a major push to bolster the county's economy.

The target forms part of the Worcestershire Local Enterprise Partnership's (LEP) vision to increase employment in the county by five per cent by 2017 and attract £750million of investment in local businesses.

The aspirations feature in the LEP's business plan which will be revealed at its Mid-Term Conference in Worcester today (Friday). Leading business figures will map out how they plan to drive the county's economy forward.

The plan also includes the possibility of creating a Bank of Worcestershire as part of wider efforts to make it easier for businesses to access finance.

LEP chiefs have also pledged to harness the expertise and knowledge of the professional sector.

Chairman Peter Pawsey said: “The LEP is a catalyst that is listening to the needs of Worcestershire, seeking to broker collaboration to create new jobs, supporting new businesses and the longevity and growth of existing businesses. We must project the many and unique qualities that exist across the county in order to attract further economic growth and activity.

"We will be proactive in seeking investors, enabling development, reducing barriers, red tape and processes, supporting our key business sectors and in projecting to the world the fantastic assets that we enjoy in Worcestershire."

Worcestershire LEP - which is a partnership between private businesses and local councils including Redditch Borough - was established two years ago with the task of helping to stimulate growth in the local economy and boost enterprise and job creation.

It has a budget of £566,000 for the present year which will be used to cover its running costs.