Surge in New Companies in Peterborough

Research by company formation expert, has shown a record number of companies being formed in Peterborough during the first half of the year

Peterborough: Peterborough has seen 730 new companies set up in the first half of 2012, beating all previous records for the same period. The figure also represents an improvement on last year when 612 companies were set up between January and July.

There is more positive news for the region in the form of the “Gateway Peterborough” project. The project will see 240 acres of distribution and manufacturing space in five million square foot of employment space to the south of Fletton Parkway, near to the A1.

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.

With a huge new development project and a record number of new businesses, the economy in Peterborough looks set to grow in years to come.

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