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Plan for Midlands ‘engine’ could generate 300,000 jobs
Plans to make the Midlands an ‘engine of growth’ by creating 300,000 jobs in addition to boosting the national economy by £34 billion has been unveiled at the University of Birmingham.
‘The Midlands Engine prospects’ plan was produced by 11 Local Enterprise Partnerships (LEPs) and has been designed to boost productivity, attract inward investment, increase connectivity and build a regional tourism offer.
The project will focus on five key themes, including skills, innovation, transport, promoting the ‘engine’ and finance for business. Furthermore, the government has predicted that if the Midlands region matches the projected growth rate for the UK over the next 15 years, it could create 300,00 jobs and boost the national economy by £34 billion.
Following the recent devolution deal with the West Midlands, Business Secretary Sajid Javid has committed £5 million for a new trade and investment package for the region. Javid is also expected to lead the first Midlands Engine trade mission next year.
Javid said: “The Midlands is the heartland of our thriving manufacturing sector and home to 25 universities, playing a strong role in the recovery of the UK economy.
“Over the last year, private sector employment in the Midlands grew more than three times faster than London and the South East.”
However, Javid also claimed there is more potential for growth in the Midlands, stating: “I commend the leadership shown by the Midlands Local Enterprise Partnerships, local authorities and others to come together and pool resources to work towards the shared goal of greater growth for the whole region.”
David Frost CBE, chair of Stoke-on-Trent & Staffordshire LEP, said: “The Midlands Engine provides a unique opportunity to cement the natural links between business, the public sector and universities. Working together with the LEPs, the aim is to boost productivity and add value to the UK economy. There is a real hunger to work across boundaries to build on the strengths that we have in pursuit of building an ever-stronger economy.”
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