A number of on-going developments in Newbury looks set to revitalise the area despite the current global recession.
One key development is the amalgamation of Sovereign Housing Group and Kingfisher HVHS Housing Association. The process, which has been underway for 12 months, reaches completion on the 1st July 2009 and together the group will now manage more than 30,000 homes. Chris Irons, Public Relations Officer for Sovereign House said: “The amalgamation will consolidate Sovereign’s position as a key provider of affordable housing. We aim to continue giving fantastic service to residents.” Whilst the development will expand the size of housing group it is not expected that new jobs will be created. Mr Irons said: “We will carry on with existing staff. The status quo is being maintained.”
A second company to experience development is Newbury Weekly News Limited who have recently launched a £4million investment to enlarge its services. New equipment will increase printing competence from 96 full-colour tabloid pages to 160 pages. The investment comes at a key time when many regional newspapers face a struggle due to the economy. Jeremy Willis, Chairman of Newbury Weekly News Group said: “A lot of revenue comes from adverts, for property and jobs, and so we’ve been hit hard. It’s not the time to take on more staff but the developments will help our current staff. Hopefully it will help us after the recession too.”
Although the developments are unlikely to create new jobs, they look set to support and maintain current business in Newbury.
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