Andy Street: Multi-million pound war chest will address skills shortage
The West Midlands is building a multi-million pound war chest to address the region's chronic skills shortage, Andy Street has said.
Speaking at the launch of the Government's new £69 million skills deal for the region – the first in the country – the Mayor said a number of elements were 'falling into place' to combat the lack of training opportunities.
Although job creation is surging across parts of the West Midlands, employers have raised concerns that a long-term skills shortage is a barrier for growth that will hinder economic prosperity.
The deal, which was announced by Education Secretary Damian Hinds on Wednesday, will fund the creation of new apprenticeships and careers advice, improve facilities in local colleges and pilot a National Retaining Scheme to drive adult learning and retraining.
It comes on top of existing commitments including £100m from the devolved adult education budget next year.
And Mr Street says he is 'optimistic' that a £28m deal to create institutes of technology (IoT) in Dudley and Solihull will be given the green light later this year.
"With all the different elements we are building something of a war chest to address the skills issue," the Mayor said.
The West Midlands Combined Authority's bid for a Dudley College run IoT at Castle Hill passed through the first stage of bidding with the Department for Education earlier this year.
If successful it will form part of an 'innovation park' in the town, providing a teaching and research environment for higher level skills programmes including advanced manufacturing, modern construction and medical engineering.
"Regional businesses have been instrumental in forming our skills plan, and all of business representative organisations have come together, and that is a very powerful calling card with government."
Mr Hinds said recruiting skilled staff had become more difficult for firms in the West Midlands due to low unemployment across the region.
"This means it is a more competitive market to recruit people to come in," he said. "We need to make sure they have got the right skills.
"This is a collaborative effort with colleges and employers and I am confident that we can do that, with everybody playing their part."
