West Midlands to unveil next chapter of growth at inaugural summit

The inaugural West Midlands Growth Summit taking place next week will showcase how the region is already delivering on the mayor Richard Parker’s growth plan.

It 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 principle economic delivery agency.

During the summit, Richard Parler will set out how billions of pounds of investment has been secured, thousands of new jobs are being created and major public transport improvements have been completed since the Plan was launched a year ago.

Reindustrialisation will be a central theme of the Summit, with the West Midlands looking to strengthen supply chains, accelerate technology adoption, tackle climate change and back advanced manufacturing, while ensuring workers and businesses have the skills they need to seize new opportunities.

The mayor said: “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.

“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.”

Delegates can also hear how the £3.8bn West Midlands Futures Fund, launched by the Mayor in May this year to drive forward the Growth Plan, has already deployed more than £2.4bn to projects across the region.

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.

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.

Just a month ago John Healey MP, Chancellor of the Exchequer, chose to set out his vision for driving economic growth across the UK at the Manufacturing Technology Centre in Coventry, in his first speech in office.

And a year ago the Mayor and senior government Ministers hosted the UK’s Investment Summit in Birmingham – the first to be held outside London - where almost £1 billion of new private sector investment was announced, alongside the creation of hundreds of new jobs across the region.