West Midlands Growth Summit to set out next phase of regional investment plan
West Midlands Mayor Richard Parker is set to unveil the next phase of his Growth Plan at a new business summit in Coventry next week, with reindustrialisation expected to be a central theme.
The inaugural West Midlands Growth Summit will bring together senior business, political, academic and civic leaders on Thursday 8 October, with Parker expected to outline new initiatives aimed at boosting investment and industrial growth across the region.
The summit will focus on strengthening supply chains, accelerating technology adoption and supporting advanced manufacturing, alongside efforts to tackle climate change and address skills needs.
Parker is expected to highlight progress made since the Growth Plan was launched a year ago, including investment secured, new jobs and improvements to the region’s transport network.
He said the West Midlands had backed 10,000 local businesses to create 3,000 jobs, confirmed funding for 7,237 new homes and supported 20,000 young people into training, placements or apprenticeships.
The summit will also showcase the £3.8bn West Midlands Futures Fund, launched in May to support the Growth Plan. The West Midlands Combined Authority says more than £2.4bn has already been deployed to projects across the region.
The fund is intended to bring public and private capital together to unlock development sites, support growing industries and attract further private investment.
The event comes a year after Birmingham hosted the UK’s first Investment Summit outside London, where almost £1bn of private sector investment was announced, according to the West Midlands Combined Authority.
Major businesses backing the new summit include HSBC, AtkinsRéalis, Lendlease, Birmingham Airport, M6toll, Rigby Group and Barclays.
The summit is being organised by the West Midlands Combined Authority in partnership with the West Midlands Growth Company.
Businesses across the Coventry and Warwickshire economy can hear directly from Coventry City Council chief executive Julie Nugent on what’s next for the region at TheBusinessDesk.com’s Coventry lunch on 12 November.
