Midlands Engine to be propelled forward by £8bn opportunities
Nineteen development projects worth a total of £8bn that can propel the Midlands Engine forward have been previewed at MIPIM, ahead of the portfolio’s official launch.
Midlands Engine chairman Sir John Peace told the audience at the international property exhibition in Cannes: “It adds up to £8bn of investment opportunities, and there are other projects which take the total to £14bn.”
Dr Colin Clinton, regional project manager at the Department for International Trade, described the Midlands as “a model region for investment”.
“The Midlands Engine has today previewed this investment portfolio,” he said.
“It is in excess of £8bn-worth of not just the region’s, but the country’s most exciting projects. That’s how valuable they are.”
In a nod to the procedural challenges of presenting big schemes at this international conference, Sir John said he couldn’t “launch” the investment portfolio, but was able to preview it ahead of the Department for International Trade’s official unveiling tomorrow.
“Britain is open for business,” he said. “This is the time to invest in our regions and in our country.
“The opportunities are enormous, and this is a great selection of those opportunities.”
The projects that are being presented to the global audience at the event in France this week span from Grantham’s Southern Quarter to Leicester’s National Space Park to Wolverhampton Canalside and City Quarter scheme.
Dr Clinton added: “All of these projects are investment-ready. They are targeted to be attractive to investors.
“They are part of a pipeline. There were 40 projects put forward – the other 21 will be ready in the next 6-12 months. They all have passionate promoters behind them.
“There’s no other region like the Midlands with its desire to work together and share in each other’s successes.”
Earlier in the day Sir John had called on Midlands businesses to work together to ensure the region has a successful time at MIPIM.
The event brings together developers, investors and local and national governments from across the world.
It is the first time the Midlands has put itself forward as a united force, with the creation of the Midlands Engine a key driver in the joined-up approach.
Sir John, who is the first permanent chairman of the Midlands Engine, highlighted the strength of the combined East and West Midlands as he officially launched the Midlands programme, describing the region as “the largest economic unit outside of London, with 12m people”.
He said: “This is a very exciting time for the Midlands, a time where we have never been more united, more determined, to achieve investment opportunities that will help people in the Midlands to live their lives.
“Last week we launched the Midlands Engine and Connect reports. It sets out the Government’s view that the Midlands Engine is important to the whole country.
“Do it on the front foot – there’s a lot of opportunity. The important thing is trying to do it together.”
