Investors and business leaders will get a first look at the next phase of the West Midlands Growth Plan at the inaugural West Midlands Growth Summit in Coventry on Thursday 8 October, with new initiatives set to support investment, industrial growth and the delivery of major regional opportunities.
Reindustrialisation will be at the heart of the Summit, alongside the £3.8 billion West Midlands Futures Fund, which is bringing public and institutional capital together behind strategic development sites, growing industries and opportunities to attract further private investment.
"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."
- Richard Parker, Mayor of the West Midlands
Major businesses backing the Summit include HSBC, AtkinsRéalis, Lendlease, Birmingham Airport, M6toll, Rigby Group and Barclays.
Richard Parker, Mayor of the West Midlands, will set out progress against the region’s Growth Plan to senior business, political, academic and civic leaders, before outlining its next phase.
"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."
- Richard Parker, Mayor of the West Midlands
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. 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.
"This summit is all about showcasing the region's value and opportunity, so we are delighted that the airport is part of that story. The West Midlands region is home to the UK's second city and the airport provides a real growth engine for the area. It is an exciting time for everyone as we celebrate the success so far, but also better understand the opportunities we need to build in order to deliver even more growth for the region and its people."
- Nick Barton, CEO, Birmingham Airport
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.
"We are proud to support the West Midlands Growth Summit, providing a platform to work collaboratively in shaping a place-based approach that drives strong regional economic growth. Together, we can unlock new ways to funding and finance, accelerate investment, and structure clear routes to delivery through effective Public-Private Partnerships."
- John Rayson, MD, Regional Growth Transformation Programme, AtkinsRealis
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, during 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.
"The West Midlands Regional Growth Summit is the region's flagship investment event and, with devolution high on the political agenda, Barclays is especially proud to be a supporter this year.
“As the region gains greater influence over its economic future, the Regional Growth Summit provides a valuable platform to turn local ambition into investment and growth. Barclays is committed to backing businesses across the West Midlands and helping them fulfil their potential, both within the region and beyond."
- Paul Faulkner, Vice Chair, Midlands, Barclays
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.
