Midlands aims for £14bn of investment
The Midlands has set out its stall to win £14bn from global investors as part of its plan to turn itself into one of the world’s leading regional economies.
The plan, dubbed the Midlands Engine Pitchbook, will be used to showcase investment opportunities to key markets such as China and the US. It unveils 33 major opportunities for investors, which combined can create 178,000 jobs, 32,000 new homes and 57.9 million sq ft of property space for the region.
The business secretary Sajid Javid, who is the ministerial champion for the region, UKTI and local leaders believe the Midlands must open itself up to the world if it is to sustain the remarkable economic growth it has experienced in recent years.
He said: “The Midlands is a region on the rise with a unique offer to investors. From Nestle to Rolls Royce, it is home to some of the world’s biggest companies and boasts a vast pool of talent in industries ranging from advanced manufacturing to food and drink.
“Foreign investment in the Midlands has more than doubled since 2011 and by embracing opportunities such as the MIPIM trade fair, we will capitalise on the Midlands’ natural strengths and make it an engine for growth.”
Peter Richardson, chair of the Derby, Derbyshire, Nottingham and Nottinghamshire (D2N2) LEP, said: “The Midlands has invested heavily in its transport infrastructure, turning the UK’s best connected region into an investment hotspot. The region’s road and rail infrastructure means that 92 per cent of the country is within a four hour commute of the Midlands, and the forthcoming arrival of HS2 is only set to improve links to other UK economic hubs. With three international airports, investors from over 200 countries can easily access our region.”
