Record number of start-ups in Telford
Business in Telford is booming with a record number of new companies being launched in the borough last year.
A total of 603 new companies started up across Telford and Wrekin in 2012, according to the latest Duport Business Confidence Report.
The figure is the highest ever and a 15.7 per cent rise on the previous year, when 521 companies were formed.
Councillor Kuldip Sahota, leader of Telford & Wrekin Council, said the figures were good news for the borough and reflected a drive to make Telford a business-friendly town.
"It is excellent news that Telford has smashed record levels for new companies in the past 12 months," he said.
"A survey by Santander identified Telford as the second best place in the Midlands for business. We are expecting 6,500 visitors to come to Telford to attend a major plastics industry event at Telford International Centre this year, and one of the draws for that has been the vision in Southwater.
"Our budget for 2013/2014 is absolutely clear in its goal to create jobs and support growth and businesses."
Peter Valaitis, managing director of Duport.co.uk, said redevelopment of Telford could be part of the reason behind the surge in new companies.
The £250 million Southwater development will transform the town centre, providing commercial, community, residential, hotel, leisure and retail space.
Eight brands – Bella Italia, Chimichanga, Harvester, Nando's, Premier Inn, Pizza Express, Wagamama and Zizzi – have signed up to move into the development alongside an 11-screen cinema operated by Cineworld. The development is expected to create 260 jobs and the cinema and the first bars and restaurants are due to open in early 2014.
Mr Valaitis said: "The number of new companies we are seeing in Telford is a fantastic sign for the local economy. The combination of the big brands the Southwater development is attracting and small, independent start-ups should make for a diverse and interesting town centre in years to come."
The report by Duport revealed that the second half of 2012 was also a record-breaking period, with more company registrations than any other six-month period since the town was created in the 1960s. The 320 new companies represented an increase of 30.1 per cent on the previous year – and was well above the national increase of 6.6 per cent.
