THE regeneration of the former MG Rover plant in Longbridge is being backed with a bumper £780,000 funding deal from the West Midlands Combined Authority (WMCA).
More than 400 new jobs are expected to be created by 2 Park Square which will see 60,000sq ft of commercial office space built on a 1.6 acre derelict plot at the once famous car works.
Working alongside partner St. Modwen, the scheme is the latest planned development in the regeneration of Longbridge which has already seen more than 3,700 jobs created.
On completion, the wider transformation of the area is expected to create around 9,000 permanent jobs and deliver an estimated economic boost of £500m a year.
Mayor of West Midlands, Andy Street, said: “This derelict site was once a thriving hub of industry, and now it can once again provide jobs and services for the region.
“Our funding will assist in closing the viability gap needed to get the redevelopment of this part of the Longbridge site underway.
“We may still be in the eye of the Covid storm but we have refused to let it knock us off course.
“Throughout the pandemic we have continued to invest in the regeneration of brownfield land across the region and put in place the building blocks we will need for a successful economic recovery.”
The 2 Park Square scheme is seen as vital in building on the success of the Longbridge Innovation Centre and other nearby workplaces.
Existing businesses in the area have grown and now require additional space to continue their expansion, but the scheme also provides space for smaller businesses to occupy and expand.