The UK’s leading retailer Tesco has this week opened a new superstore in the troubled area of Toxteth in the north west of England.
At 85,000 sq ft the new Tesco Extra has become the largest outlet that the retailer has opened in the Liverpool area and around 200 new jobs are expected to be created by the store.
Toxteth is an area with a 36 per cent unemployment rate and has seen a dearth of investment since the infamous Toxteth riots in 1981, when racial tensions led to violence against the police and serious property damage.
Additional investment of £600,000 is to be committed by Tesco, as part of the planning agreement, in order to regenerate the surrounding area.
Matt Magee, Corporate Affairs manager at Tesco, said of the new store: “The Tesco store represents a massive investment in an area of Liverpool where this type of investment has been sorely lacking for nearly thirty years, and we expect wider knock on regeneration to occur as a result.
“We believe that by building a store in a district centre and employing 200 local residents, Tesco will bring support for other businesses in the Park Road area, with more people choosing to shop on Park Road rather than driving elsewhere.”
As part of the plans, nine patches of waste land will be cleared and improved in an effort to enhance the Park Road area and individual local traders will be offered the opportunity to apply for a grant of up to £2,500.
Tesco worked with the local jobcentre to source unemployed residence from the Toxteth area to fill the postions at the new store, and in the ten years it has run similar such partnerships the retailer claims it has found work for over 4,500 people.
Despite a lack of space around the UK at present, Tesco also managed to agree a deal earlier this week to build a new superstore in the Cambridgeshire town of Wisbech.