£120 million boost to West Midlands economy as tens of thousands of visitors flock to the region, says mayor Richard Parker

Mr Parker said the region's economy had been given a £120 million boost thanks to a business and tourism support programme that brought tens of thousands of visitors to region while creating thousands of new jobs and training opportunities.

This has been bolstered by more than £70 million of new business investment distributed over the past two years through the West Midlands Combined Authority’s Economy, Trade and Tourism programme, funded ‘unspent contingency’ cash for the 2022 Commonwealth Games.

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The programme included an inward investment campaign and targeted support for businesses which has helped more than 250 businesses to grow and find new markets, creating or safeguarding around 12,000 jobs, he said.

The career prospects of another 11,000 local people have been significantly improved through jobs skills training, helping them find jobs, get onto training and work experience programmes, or study for a new qualification.

And the mayor said 10 cultural and sporting events, held over the past year thanks to funding from the Major Events Fund, were attended by 300,000 people, giving an estimated £19 million boost to the economy.

Mr Parker said: “Our Economy, Trade and Tourism Programme has delivered real results. It’s helped hundreds of local businesses grow, created new jobs, and trained thousands of people with the skills they need to get ahead.

“We’ve seen a real boost to our arts, culture and tourism too, with major events bringing in visitors and shining a light on local talent.

“After years of stagnation, the West Midlands economy is finally picking up pace. My regional growth plan will build on this momentum and deliver the growth and prosperity we need, and make sure the benefits are felt by everyone.”

The programme included a package of tailored support to unlock barriers faced by 50 businesses with high growth potential, putting them on track to boost investment and turnover by £20 million.

He added that support given to 150 social enterprises and community-owned businesses helped increase their trading income by a combined £8 million, creating 215 jobs and improving more lives in the communities they serve.

The creative industries and cultural sector also received specific skills and business support, and direct grants were made to more than 100 early and mid-career freelancers, small cultural organisations and creative businesses, alongside funding for community events to boost high street footfall.

The 10 major cultural and sports events backed with funding included two major esports events, the Kabaddi World Cup and the European Judo Union Junior Cup.

The Major Events Fund also supported the annual Black Country Festival and the Urban Sports Xperience in Wolverhampton.

Ashok Das, president of both the England Kabaddi Association and World Kabaddi, and a resident of the West Midlands, said: “It was an honour for the England Kabaddi Association to help in organising the Kabaddi World Cup here in the West Midlands.

“The support from the Commonwealth Games legacy fund was instrumental in making it happen, helping us attract record crowds and shine a global spotlight on the region. We hope it’s ignited lasting interest in kabaddi and inspired more local communities to get involved in the sport.”

The two flagship venues used during the Commonwealth Games, the Sandwell Aquatics Centre and Alexander Stadium, have also received funding to help them continue offering sports and physical activities for local people, creating jobs and preparing them to host future major events, starting with next year's European Athletics Championships.

Businesses are continuing to be supported to grow, adopt digital technologies, transition to new supply chains, and access funding opportunities through Business Growth West Midlands (BGWM).

Contact a local business growth advisor at www.businessgrowthwestmidlands.org.uk.