West Midlands Growth Plan marks first year with billions in investment and major infrastructure progress
In its first year, the West Midlands Growth Plan has delivered across the region, with billions of pounds of investment secured and major public transport improvements enabling movement across the region’s cities.
Attendees of the West Midlands Growth Summit next week will hear from Richard Parker, Mayor of the West Midlands, about how the Growth Plan has delivered in the region since it was launched a year ago.
In just one year we’ve backed 10,000 local businesses to create 3,000 jobs, confirmed Mayoral funding for a record 7,237 new homes, including 2,452 affordable or for social rent, and got 20,000 young people into training opportunities, placements or apprenticeships.
Our transport infrastructure has also been strengthened with the opening of five new rail stations in Birmingham and the Black Country, and we’re on track to extend the Metro into Dudley and take our vital bus network back into public control.
– Richard Parker, Mayor of the West Midlands
The Summit will also be a chance to look forward, bringing public and private stakeholders together with a view to strengthen supply chains, accelerate technology adoption, tackle climate change and back advanced manufacturing, while ensuring workers have the skills needed to support ambitious businesses.
The West Midlands has maintained its position as one of the UK’s leading destinations for inward investment despite a challenging global economic climate.
This is our region demonstrating that we are a key driver of national growth and prosperity. And this summit is about setting out the next chapter of our growth story.
– Richard Parker, Mayor of the West Midlands
Delegates will also hear how the West Midlands Futures Fund, launched with an initial £3.8 billion by the Mayor in May this year to drive forward the Growth Plan, is deploying funding to projects across the region, alongside an additional £1.7 billion committed to key transport projects.
The Futures Fund is designed to align public and private capital behind strategic growth opportunities. Its aim is to unlock major development sites for new homes, commercial space and jobs, back growing industries and help attract billions more in private capital, reinforcing the West Midlands’ position as one of the UK’s most attractive destinations for business investment and expansion.
The West Midlands has a clear ambition to drive long-term growth through investment, regeneration and partnership. Smithfield Birmingham is a strong example of what that ambition can deliver.
– Colin Murphy, Project Director, Smithfield Birmingham, Lendlease
The West Midlands has the ambition, talent and sector expertise to be a powerful engine of UK growth.
By turning discussion into collaboration and investment, the Summit can help local businesses access new markets, build productive partnerships and scale with confidence – creating jobs, strengthening communities and unlocking opportunities.
– Stuart Tait, Head of Commercial Banking, HSBC, Premier Partner of the West Midlands Growth Summit
The West Midlands Growth Summit will take place on Thursday 8 October and is organised by the West Midlands Combined Authority in partnership with the West Midlands Growth Company, the region’s principal economic delivery agency.
The event is sponsored by Premier Partner HSBC, Associate Partners Lendlease and AtkinsRéalis, Supporters Rigby Group, M6toll and Birmingham Airport. The pre-summit event is sponsored by Barclays.