Four ‘significant’ investors eyeing up a move to Luton

Luton Town Hall

Luton Town Hall

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Four ‘significant’ investors are considering a move to Luton, the Herald & Post can reveal.

In the aftermath of the closure of the town’s Vauxhall plant in 2002, Luton Borough Council launched a campaign to entice new employers to the area.

In recent months LBC has ramped up ‘Think Luton Think Business’ by taking out advertising on London Underground and in real estate magazine Property Week at a combined cost of £66,979.

LBC has said that the advertising, as well as a £7,500 overhaul of the campaign website, was paid for with income the council receives from the Basepoint Innovation Centre.

It has also yielded four ‘significant’ enquiries from investors, the council has told the Herald & Post.

Paul Adams, LBC’s acting service director for business, said: “Many towns and cities across the country have an investment programme and business growth is one of the Council’s key priorities.

“Attracting inward investment is vital to creating more jobs and opportunities for local residents.

“The recent Enterprise Zone announcement, coupled with airport expansion and development around junction 10a are expected to bring 15,000 additional new jobs by 2025.

“This is all part of the Council’s ambitions set out in its Investment Framework which is due to be launched in early 2016.”

> The development comes weeks after the release of a report which concluded that the Luton Airport expansion could generate £1 billion for the economy and support 10,500 new jobs.

Oxford Economics published the forecast after assessing the impact of the £110 million investment to redevelop the airport by 2020.