Wolverhampton has had a tough time economically in recent years, and of course it faces a difficult future as you would expect.
Constantly we hear about how poor the city is doing when it comes to the local economy. Well let me inform you of some different news this morning.
The economy is very much key to our fortunes, we do have to continue to be business friendly, we do have to do all we can to increase the number of businesses that base their operations here in this city. Its jobs and the prosperity that they bring, that is the number one priority for the Labour Administration now running the City Council.
In Wolverhampton there has been some interesting developments that I have discovered .
In 2011/2012 the City Council levied Business rates on 8,023 companies, in 2014/15 that figure had increased to 8,310. An increase in the number of businesses operating in Wolverhampton of 3.58%.
Now modest as the increase is, it does show that the City business base is growing. That has to be good news for the City, and its residents.
Aligned to that is the fact that the City increased the amount of Business Rate levied from £72m in 2011/12 to £76m in 2014/15. Again a modest increase of 5.6% in the revenue raised.