The credit crunch may be in full swing but Luton is one of the top towns in the country when it comes to business growth.
This was confirmed by Luton’s position in the recent Business Barometer from the Royal Mail, which lists the top 20 business growth towns and cities nationwide, Luton ranks 6, up from 33 last year, beating the only other town in the south east to make the list, Milton Keynes at number 9.
Colin Chick, Director of Environment and Regeneration at the council said: “No one can deny that the country is going through challenging times but in Luton our team is working with businesses, developers and investors to make sure that the major regeneration plans for the town are still on course and that Luton’s economy continues to grow. We are on hand individually and through a series of events to offer support and advice to all local businesses about how to expand, diversify and get funding if they need it.”
“It is great that Luton is now one of the leading towns in the country for business growth and I am confident that this positive trend will continue.”
A number of major developments in the town are now either underway or will be starting shortly. This includes a £20m redevelopment of the frontage of the Mall Arndale which begins in December and will be open for business in late 2010. A number of retailers have already secured units including Starbucks and TK Maxx. The building of the new multi storey car park, the first phase of the new Luton Gateway project also starts in December and work on the new fountain in St Georges Square begins in January.
The new Luton corridor road, linking the M1 motorway to the airport, opens in January 09 and this will compliment the innovative Luton Dunstable guided busway which recently received the go ahead with £80 million of government funding.