Advantage West Midlands, the government backed quango, has had its budget cut by £48 million and on top of this AWM's bosses are suggesting that revenue from its own assets could be as much as £20 million lower because of the recession.
AWM has been told by Lord Mandelson to focus on supporting industry so the agency has also moved £64 million from its budget for regeneration schemes and redirected it to projects designed to help companies.
It had been hoped that the National Football Centre would have received some funding from AWM but this is now unlikely.
Advantage West Midlands are one of the partners in the Edgar Street Grid scheme for the middle of Hereford close to Hereford United's football ground.
It is not yet known whether the change in emphasis for AWM will mean more delays for the ESG scheme.
UPDATE: It has been revealed by AWM that any possible Hereford by-pass will be delayed until 2014 at the earliest.
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Thursday, July 23, 2009
Budget Cuts at Advantage West Midlands
