Richard Parker has launched a \u00a33.8bn regional investment fund aimed at accelerating regeneration, housing delivery and job creation across the West Midlands.<\/p>\n
The new West Midlands Futures Fund brings together backing from a range of public sector organisations, including the West Midlands Combined Authority, West Midlands Pension Fund and Homes England, as part of a wider investment partnership designed to unlock major development opportunities and attract private capital.<\/p>\n
Announced at the UKREiiF property conference in Leeds, the fund is intended to support large-scale regeneration schemes, affordable housing and infrastructure projects across key growth corridors including Birmingham-North Solihull, Coventry, Sandwell-Dudley and Wolverhampton-Walsall.<\/p>\n
The Mayor said the initiative would help unlock a wider pipeline of development opportunities worth an estimated \u00a319bn across the region.<\/p>\n
Richard Parker said: \u201cThis gives us the financial firepower to invest in the things that matter most to local people – affordable homes, good jobs, skills and better transport.<\/p>\n
\u201cThe West Midlands has never had this level of investment working together behind a single regional plan. We now have the chance to shape our own economic future and bring in billions more of private investment alongside it.<\/p>\n
\u201cI want developers and investors to work with us to help grow the economy and raise living standards right across the region.\u201d<\/p>\n
Alongside the launch, the Mayor said work is underway to bring further investment into the region through partnerships with national investment bodies and government-backed institutions.<\/p>\n
Oliver Holbourn, CEO of the National Wealth Fund said: \u201cBoosting regional investment is key to national growth. Through our Strategic Partnership with the Mayor of the West Midlands, we\u2019re backing the ambition behind the West Midlands Investment Partnership, helping to develop the pipeline of investable projects that can unlock jobs and private investment for communities across the region.\u201d<\/p>\n
The launch follows signs of economic growth across the West Midlands, including rising business start-ups, growth in professional services employment and increased demand for construction workers linked to a major pipeline of development projects.<\/p>\n","protected":false},"excerpt":{"rendered":"
New regional fund aims to unlock regeneration, attract private investment and accelerate major development projects <\/p>\n","protected":false},"author":266702,"featured_media":2111958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"coauthors":[127717],"class_list":["post-2111957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-greater-birmingham","tag-top-story"],"yoast_head":"\n