Peterborough: 730 New Companies

730 new companies have been set up in Peterborough since the start of the year, according to new figures.

Statistics from company formation firm indicate that compares to the first six months of 2011 when 612 new firms were set up in Peterborough.

The figures come after construction work started on a new manufacturing and distribution hub at Great Haddon.

Developers claim the new 'Enterprise Zone' in Peterborough will create up to 8,000 new jobs.

John Bridge, chairman of Cambridgeshire Chambers of Commerce, said: "It is a real boost to the Peterborough economy and a show of great confidence in how businesses see the future of the economy in Peterborough. 

We have to say in this current economic climate getting significant investment in this way is really very important in helping drive our own economy but also UK PLC.

The development could create up to 8000 jobs and eventually see 5500 homes built on the site to the south of the city. The project also includes plans for a new shopping area and a school."

Managing Director of, Peter Valaitis said: "Peterborough is right in the centre of the country, making it a great business location. 
Ongoing development of the area is obviously attracting business start-ups, which will, in turn, strengthen the economy of the area."

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