Fantastic infrastructure, great access to and from major cities and a wonderfully skilled workforce are just a few of the factors that look set to come together to push Luton as a major player in the world economy, thanks to the announcement of £1.5 billion worth of inward investment in the town.
In recent years, the town has emerged as a surprising hotspot for buy-to-let purchases thanks to the increasing rental prices and strong prospects for capital investment, and this has helped to push the area forward as a great place for investment in general.
As a result, Luton Borough Council has reacted to the potential of the town with the announcement of a £1.5 billion inward investment programme at the St Pancras Renaissance Hotel in London. Investors and businesses alike were told at the event how the town is only now starting to show the ability it has to continue to grow as a centre for business and property investment thanks to its unique set of positive features. Read more…
The inward Investment Framework will see the large pot of money spread over a period of 20 years, during which the council will be working to improve roads, rail and bus access, business prospects, as well as other focal points.
In turn, it is hoped that businesses and investors will turn their eye to the town, and the council predicts that within the two-decade window, it will be able to attract sufficient companies to create 18,500 new jobs. This, in turn, will also help improve the property market as more homes are needed to meet demand from brand new residents in the town.
Councillor Hazel Simmons, leader of Luton Borough Council, said: “We are absolutely clear in our vision for Luton and the Investment Framework sets out how we will grow the economy and transform the town in order to improve the quality of life for our residents.
“In less than a year since it was drafted we’ve completed the £31 million J10a improvement scheme and secured Enterprise Zone status, while the £110 million London Luton Airport redevelopment is well underway, along with other major developments moving forward.”
She also went on to say that there are already well in excess of 1,000 builders on site across the town at the moment, indicating just how much Luton is already expanding and growing to meet its potential as a hub for both investment and business.
“Luton is ambitious, innovative and ready for business and we want to demonstrate absolute quality at every level,” the councillor concluded.