Multi-billion pound West Midlands futures fund launched to drive private sector growth
The West Midlands Futures Fund was launched yesterday to the private sector of the region, putting billions on the table for high impact schemes that can drive economic growth and thousands of new homes and jobs.
Issuing a ‘call for projects’ to developers, mayor Richard Parker (pictured) said the West Midlands Futures Fund offered an unprecedented opportunity for the public and private sectors to work together and build a more prosperous West Midlands, raising living standards across all communities.
He also announced a new package of projects to be backed with public and external finance from the fund which gives the region the financial strength to unlock major development sites, back growing industries and attract billions more in private investment.
Over £400m of the initial £3.8bn put into the fund has been allocated to new affordable and social housing.
The umbrella fund, first announced in May 2026, has continued to grow, incorporating significant funding for transport infrastructure, with £1.7bn now committed to projects including new tram and rail links to unlock the Birmingham Sports Quarter.
The financial firepower of the Fund is expected to be further bolstered as more powers and funding are transferred from Whitehall to the West Midlands under devolution.
Speaking ahead of West Midlands Growth Summit happening today, the mayor said he was opening a formal process for the private sector to bring projects to the fund with a particular focus on commercial and mixed-use schemes, including hotels, offices and employment space.
The mayor said: “We’ve wasted no time in using the West Midlands Futures Fund to start driving growth across our region but today I’m opening it up with a call for projects.
“I want developers to work with us and help build the schemes that will drive prosperity for local people and businesses in the years ahead.
“I know there are many investors and developers with deep roots in this region and who, like me, want to deliver the things that matter most to people - affordable homes, good jobs, better transport and a ‘can-do’ environment for business.
“This fund offers a unique opportunity to achieve that by providing the support the private sector needs to get spades in the ground.”
“I’m also announcing several new schemes for this unprecedented financial firepower that will drive further growth and help improve the quality of life.
“The West Midlands Futures Fund is here to not only support business and industry but also the daily lives of our residents, touching every single person in every corner of our region.”
The next round of initiatives to be financed by the fund are focussed on the region’s four major growth corridors - Birmingham & North Solihull Gateway, Coventry Growth Arc, Black Country Growth Corridor and the Wolverhampton to Walsall Growth Cluster.
The “Call for Projects” is seeking expressions of interest from the private sector for developments across the commercial, mixed-used and large-scale residential sectors.
Around £545m from the West Midlands Futures Fund is currently allocated for such projects, alongside support from members of the broader West Midlands Investment Partnership. This builds on an existing £300m revolving fund the WMCA has already been delivering.
