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DY5 Enterprise Zone

DY5 – Dudley’s Business and Innovation Enterprise Zone – brought £33 million in investment value to the borough, revitalising the Brierley Hill Waterfront area with a range of mixed-use developments including office, residential and retail.

Location

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The DY5 Enterprise Zone covers 40 hectares, including office, technology, leisure and residential development opportunities in the strategic centre of Dudley borough.

 

It is formed of six key sites, including the Waterfront, Harts Hill, Canal Walk, Archill and Blackbrook Valley developments in Brierley Hill, and the Dreadnought Business Park in Pensnett.

 

In close proximity to the borough’s historic canal basins and the major retail shopping centre at Merry Hill, the Enterprise Zone offered a high-tech hub connected to Dudley’s traditional manufacturing and industrial heritage. Modern, high-quality residential units complemented this desirable development opportunity.

 

Benefits

 

The direct financial benefits for businesses relocating to the DY5 Business and Innovation Enterprise Zone included reductions to business rates bills and land remediation funding.

 

With almost 15% of the borough’s workforce employed in the manufacturing industry at the time of the Enterprise Zone’s creation in 2017, businesses were able to access a pool of skilled local talent. Close links to local engineering and construction technology centres of excellence also offered a strong foundation for future growth.

 

Another unique benefit was the immediate availability of high-quality, affordable office accommodation, from large-scale refurbished units to smaller offices, allowing businesses to reap the benefits of relocation straight away.​

Outcomes

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  • The Enterprise Zone generated £33,000,000 in investment value for Dudley borough.

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  • 16.25 hectares of the site were developed, including 18,892 square metres of refurbished floor space and 37,716 square metres of new floor space.

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  • 970 new jobs have been created as a result of the Enterprise Zone and 120 new businesses have been welcomed into its boundaries.

Waterfront
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