2023 Investment Prospectus

Home to world-leading sectors and transformational infrastructure, the West Midlands possesses significant assets which make it an unrivalled location for new sustainable investment.

The West Midlands is at the heart of devolution and investment in the UK. Our recently negotiated landmark Deeper Devolution Deal has secured a huge transfer of power and responsibilities in the areas of housing, regeneration, economic development, transport and skills, bringing £1.5 billion of new funding from UK Government to the region. This is in addition to the £6 billion secured through previous deals and funding agreements since 2017.

The region has vast investment potential and global ambition. This is evidenced by our work with Strategic Partners, such as Legal & General, who are committed to investing £4 billion in regeneration, housing, and levelling up across the West Midlands over the next seven years.

With a combined investment value of over £20 billion, this Investment Prospectus sets out the profile and prestige of opportunities, which have grown following recent events such as hosting the hugely successful 2022 Commonwealth Games. The West Midlands is driven by assets such as our young, skilled and diverse workforce, key growth sectors, internationally renowned higher education institutions, and outstanding connectivity which will be underlined by the arrival of High Speed 2 (HS2).

As a region we are leading the UK’s Green Industrial Revolution and building the homes and places of the future, taking an innovative approach to placemaking through schemes such as our new Levelling Up Zones (LUZs). We are a trusted partner of Government, industry and local communities, bringing a business mind-set, delivering what we say and driving transformational change across the West Midlands.

Largest number of businesses of any Combined Authority area.

Connectivity

• 90% of the UK population and 92% of UK businesses are within four hours travel-time of the West Midlands

• HS2 will result in less than 40-minute travel time to Central London

• One of the fastest growing airports in Europe with extensive global linkages.

 

Economy

• Largest economy of any Combined Authority area at £118 billion

• Home to world-leading businesses in key sectors such as low carbon energy, automotive, health technologies, business and financial services, and the creative industries

• Centres of research and innovation, such as the UK Battery Industrialisation Centre and National Brownfield Institute, along with the Manufacturing Technology Centre and WMG – two national centres of the High Value Manufacturing Catapult.

 

People

• The largest population of any Combined Authority - 4.7 million

• Young (a quarter under 20), dynamic, diverse and fast-growing (over 500,000 in 20 years)

• Home to nine Universities, including two in the World’s Top 100, creating 63,500 graduates annually.

 

Development

• Housing delivery doubled over the last decade
• Hundreds of hectares of land ready for development along transport corridors

• Strong engagement with industry and investors including through Taskforces and Strategic Partnerships.

 

Environment and Quality of Life

• Energy, Environment and Zero Carbon – a compelling programme to hit net zero by 2041 including Net Zero Neighbourhoods and zero carbon homes

• Biodiversity – Birmingham has one of the highest proportions of green space of any UK city and the region’s natural environment is a major asset

• Internationally-renowned cultural assets, such as the Royal Shakespeare Company, the National Exhibition Centre (NEC), leading sports clubs and facilities, major heritage assets, arts venues, and events.