City region’s economic growth outperforms UK rivals

The latest raft of data from the Government has shown how Greater Birmingham and Solihull is being lifted by a rising economic tide in the region.
The Office for National Statistics (ONS) has revealed the economic output for sub-regions, enabling local enterprise partnerships areas to compare their performances nationally. 
The economic area covered by Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP), which ranges from East Staffordshire to Redditch, saw a 4.7% increase in its output to £44.5bn in 2015.
Steve Hollis, chair of the GBSLEP, said: “These figures are testament to the ability of the public and private sector in the region to deliver on ambitious growth plans and drive the economy through collaboration.”
Greater Birmingham & Solihull’s gross value added (GVA) per head – a measure of economic output based on population – rose by 4%, the biggest increase by any core city LEP and significantly ahead of London.
Hollis added: “The GBSLEP and its partners have worked hard to create strong conditions for growth, something that has galvanised key sectors including professional services and construction, sectors that are instrumental in spurring business and investment activity and creating a truly global city region.
“Greater Birmingham is strongly positioned to increase its global competitiveness and play a leading role in the UK’s future growth.”
GBSLEP has set long-term targets for 2030 of increasing GVA by £29bn and become the leading core city LEP for GVA per head.
The LEP’s targets, detailed in its strategic economic plan launched last year, sets out the plan to reach and exceed national GVA averages.

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