Prosper Autumn, Black Country Chamber of Commerce magazine

WELCOME
Andy Street
West Midlands Mayor
Our track record for delivery has put the West Midlands
at the front of the queue for investment
The West Midlands is being put at the
front of the queue for Government
investment – and rightly so.
In this column, I want to explain how our
proven track record of delivering on the
ground shows how our region can take full
advantage of the new Investment Zones
recently announced by the Government, as
well as improved transport infrastructure.
Investment Zones are to be set up across
the country to boost business and aid
growth.
The West Midlands Combined Authority
(WMCA) is in discussions about potential
Investment Zones at a number of potential
sites in the Black Country, such as the
Wolverhampton to Walsall Corridor, as well
as the HS2 Interchange site near the NEC
and the site of the proposed Gigafactory at
Coventry Airport.
These zones would create areas where
businesses would benefit from lower taxes,
faster development and improved
economic prospects. Crucial to this concept
is unlocking significant new private sector
investment – something else the West
Midlands has a reputation for.
Earlier this year, at MIPIM, the world’s
leading real estate event, I launched a
£15billion investment prospectus to
investors, featuring more than 20 diverse
development opportunities across our
region.
We also consistently attract big business
players, with Goldman Sachs the latest
global name to choose to make our region
its home.
So, the West Midlands has a raft of
potential sites that could benefit from
targeted investment, and we also have the
PROSPER AUTUMN 2022
know-how to make sure that investment
delivers, by directing investment into
specific areas.
The huge audience that watched the
Commonwealth Games was impressed by
the backdrop of Birmingham City Centre,
with its iconic buildings and striking public
squares. While the Games took us four
years to prepare, this eye-catching built
environment in the heart of the city is the
result of 12 years of investment and
development, evidence of a successful
enterprise zone working its magic.
Across the region you can see many other
examples of targeted, localised investment
that has driven growth, of different sizes. In
the Black Country, we are leading the way in
Brownfield development, which is making
use of the legacy of our past by reclaiming
former industrial sites for commercial and
housing use.
In Brum, there is the vast project that is
seeing the site of the Longbridge car
factory regenerated.
Private funding is vital, and the
Government has shown its support for
business by dropping the planned increase
‘‘
The West Midlands has a raft
of potential sites that could
benefit from targeted
investment, and we also have
the know-how to make sure
that investment delivers, by
directing investment into
specific areas.
‘‘
in corporation tax, as well as placing a cap
on wholesale energy bills.
Transport
Another driving force behind the renewal
of the West Midlands has been our approach
to transforming transport, which has seen a
seven-fold increase in investment since I took
office. We have now received a tremendous
vote of confidence in our transport plans,
with the news that a number of vital regional
projects will be fast-tracked.
These include the Wednesbury to
Brierley Hill Metro tram extension, phase 2
of the Sprint rapid bus network, a new
railway station at Aldridge and important
priority measures on our buses, which
remain the workhorse of our public
transport network.
All of these projects will have the
important effect of reducing car use,
improving air quality and helping us hit our
net zero targets. But in terms of growth, we
know that creating a first-class transport
network connects communities across the
region, helps residents access job
opportunities and opens up new areas for
business investment.
With the Government’s plans to help us
fast-track these projects, we can expect
diggers in the ground on the majority of
them by the end of 2023, and I cannot wait
to see local lives changed for the better as a
result.
The fact is that successful investment
zones and improved transport infrastructure
go hand in hand. To make proposals like
this work, you have to provide the land
assembly and infrastructure to attract
investors and developers. In the West
Midlands, we have shown we can do this.
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