A PLAN to reboot the region’s economy, raise living standards, and put an extra £8,600 back into the pockets of working people has been unveiled by the region’s Mayor.
Richard Parker says the the West Midlands Growth Plan will drive a new era of prosperity in all parts of the region by creating 100,000 good jobs in fast-growing industries, getting tens of thousands of residents into work, improving public transport, and building 120,000 homes.
The plan also sets out actions to reduce poverty and deprivation and make further progress towards net zero.
The Mayor also plans to grow the region’s £77billion economy by more than £17billion – bringing higher wages and better opportunities for working people.
As part of the plan there will be more support for business leaders and entrepreneurs and backing for workers in the everyday economy such as teachers, bus drivers, shop workers and carers.
Towns and cities and their high streets are also set to be transformed through a series of major investments including £2.4billion of improvements to the region’s transport network.
The launch comes as the region prepares to host a global investment summit in partnership with government later this year which will set out investment opportunities across the West Midlands and UK to international business leaders and investors.
The Mayor said: “We’re the biggest region outside London, with world-class universities, global brands and incredible talent. When the West Midlands thrives, the whole country benefits.
“My Growth Plan is about unlocking opportunity for everyone, in every place. It’s written with business, backed by government and will improve the lives of everyone.”
The Growth Plan will build on new projects and funding secured by the Mayor since he took office.
This includes hundreds of new social homes, £2.4bn to improve transport, more than £10m of support for local businesses, five million free bus journeys ahead of bringing the network back under public control and a flagship Investment Zone, offering tax breaks and other benefits for companies.
The Mayor has also agreed a new tram line to East Birmingham which has proved pivotal in landing the £3bn Sports Quarter regeneration project by American financier and Birmingham City FC co-owner Tom Wagner.
Click here to read the Mayor’s West Midlands Growth Plan.
