Insider Media Limited

Birmingham-based developer St. Modwen has submitted an application to the Regional Growth Fund (RGF) for £22m for its regeneration project in Longbridge. If successful, an estimated 320 new private sector construction jobs would be created as a direct result.

The RGF, worth a total £1.4bn, has been created by the government for local enterprise partnerships (LEPs) and private sector companies to bid for cash for regional projects.

As revealed by Insider, St Modwen's bid was approved for submission by Birmingham City Council last week.

If St Modwen’s proposal is successful, the regerneration specialist has estimated that the project would create more than 300 constructions jobs, and said that an additional 3,950 jobs would be generated through the subsequent development.

This would bring the total of new jobs created at Longbridge over the next ten years to more than 6,000.

St Modwen has invested more than £75m at Longbridge since acquiring the 468 acre site in 2003. The investment to date has already created 660 permanent jobs through the development of the Technology Park and Cofton Centre.

Further employment is set to be created through the proposed new town centre and increased car production at MG Motor UK, and 500 jobs will be generated through the relocation of the £66m Bournville College in September 2011.

Bill Oliver, chief executive of St Modwen, said: “In order to develop the next phase of Longbridge, £32m of essential infrastructure work must be carried out. A regeneration project as significant as Longbridge requires an element of public funding in order to attract the private sector investment which will create thousands of new jobs for local people.

"St Modwen is fully committed to this landmark, 468 acre regeneration scheme and if our application to the Regional Growth Fund is successful, we anticipate that over 6,000 new jobs will be created in the next ten years.”