The Waterfront boost is agreed by Dudley Council
Councillors blamed government ministers for delays over the regeneration of an ailing business district as they sealed a deal aimed at welcoming new firms to the site.
Around a third of the office and business space at The Waterfront opposite Merry Hill shopping centre is empty after many major firms pulled out of the Brierley Hill site.
But the once-thriving business centre could now be revived under plans approved by councillors hoping to reverse the impact of the economic downturn and create 1,600 jobs.
Plans were passed last night to create the Dudley Business Investment Zone at The Waterfront with incentives to boost the area which also was once a top night time destination with many bars and clubs.
It is hoped the zone, which will last for five years, will entice new businesses and existing firms at the site to expand by offering a two-year break in business rates – with the landlords and council sharing the expected £550,000 bill.
Opposition councillors did raise concerns over delays on the scheme with a similar project muted by former council leader Councillor Les Jones in 2012.
Tory group leader Councillor Patrick Harley said: "It was Councillor Jones who began this idea of a business investment zone at that area. He chaired a meeting of the cabinet in March 2012 and since then very little has happened and it is still at the report stage.
"Within that time the skyline of Dudley has changed with new developments courtesy of Dudley College.
"Perhaps they should ask the college and other partners for assistance as under this administration progress on regeneration for major businesses has slowed almost to a halt."
Dudley Council regeneration boss, Councillor Judy Foster, responded saying delays over the scheme were exacerbated by ministers. The Government of its day set up an enterprise zone offering business rate breaks to pave the way for The Waterfront being built on the site of the former Round Oak steelworks in the late 80s and early 90s.
But proposals for a similar government-backed zone had to be shelved when ministers favoured sites such as the i54 on the Staffordshire -Black Country border.
Councillor Foster said: "We are in the position of having to come up with our own scheme because of the 24 zones that the coalition government identified they did not deem Dudley, as one of the largest boroughs in the country, to be worthy of the investment."
