Mayor to set out next phase of growth plan in Coventry
Industrial development is set to form a key part of a ten-year plan to drive growth in the West Midlands, as Richard Parker sets out his economic plans at a key business summit next week.
Parker is expected to tell delegates at the inaugural Growth Summit in Coventry that the next phase of the West Midlands Growth Plan will include a heavy focus on the reindustrialisation of the region.
He will also outline the combined authority’s progress on the strategy, which includes the creation of 100,000 jobs in the region alongside plans to build an extra 120,000 homes between 2025 and 2035.
Delegates at the event, set to be held on 8 October, will also hear how a £3.8bn West Midlands Futures Fund, launched to unlock major development sites last year, has already deployed more than £2.4bn to projects across the region.
The summit is being organised by the West Midlands Combined Authority in partnership with the West Midlands Growth Company.
“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,” said Parker.
“And 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 real and measurable change for our people, communities and businesses. 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.”
The West Midlands Growth Summit is being sponsored by Premier Partner HSBC, Associate Partners Lendlease and AtkinsRéalis, Supporters Rigby Group, M6toll and Birmingham Airport. The pre-summit event has been sponsored by Barclays.
“The West Midlands has a clear ambition to drive long-term growth through investment, regeneration and partnership,” added Colin Murphy, project director for Smithfield Birmingham, Lendlease.
“Smithfield Birmingham is a strong example of what that ambition can deliver – reconnecting a significant part of the city centre, creating new homes and workplaces, and building on the unique heritage of Birmingham’s markets.
“Delivering projects of this scale depends on long-term collaboration between the public and private sectors, and the West Midlands Growth Summit provides an important opportunity to bring together the partners, investors and institutions that will help shape the region’s next phase of growth.”
