Business leaders back plan to turbo-charge economic growth in West Midlands
Business leaders have thrown their weight behind a major plan aimed at turbo-charging the West Midlands economy.
Members of the Greater Birmingham, Black Country and Coventry and Warwickshire Chambers of Commerce said the West Midlands Growth Plan will help ‘maximise the region’s potential’.
Mayor Richard Parker launched The West Midlands Growth Plan in Wolverhampton on Monday (July 21) which is focused on turbo-charging the area’s economy and raising living standards.
Mr Parker said the plan will drive changes such as increasing the region’s £77 billion economy by £17 billion, create 100,000 jobs in fast-growing industries, building 120,000 homes and improve public transport.
It has also set out actions to reduce poverty and deprivation and make further progress towards net zero.
Raj Kandola, acting deputy CEO of Greater Birmingham Chambers of Commerce, said: “The West Midlands is an excellent place to start, grow or invest in a business, however, fundamental issues remain which continue to impact our long-term growth.
“It is encouraging to see the West Midlands Combined Authority recognising some of these key challenges and embracing many recommendations of the Business Commission West Midlands with its long-term approach to maximising the region’s growth potential and improving the prosperity of local residents.
“The ‘key growth industries’ highlighted in the Plan represent crucial strengths aligned with the national industrial strategy, and important opportunities for the region to grasp.
“We must also not underestimate the critical contribution of place making sectors such as hospitality and retail – the ‘everyday economy’ – to the region.
“We look forward to continuing to work with the West Midlands Combined Authority to support businesses of all sectors across the region to thrive, driving economic growth and prosperity.”
Sarah Moorhouse, CEO of the Black Country Chamber of Commerce, added: “We welcome the mayor’s new West Midlands Growth Plan launched today in Wolverhampton and believe the Black Country and our fantastic businesses will play a key role in shaping and driving the five key industries central to the strategy.
“Many of our members are already heavily involved in advanced manufacturing, clean technology, health and medical technologies, digital/creative sectors and professional and financial services and a long-term approach to maximising the opportunities here should be applauded.
“One of my main ambitions is to make sure we commercialise more of the new technologies we come up with in our region.
“Too often we generate the clever ideas and concepts yet see them brought to market by international companies. This has to change, and we will be fighting to ensure this plan addresses this.
“Successful businesses drive the economy and, as such, should be the government’s best friend. It doesn’t always feel that way!
“However, it’s a massive positive that Labour is transferring more power, resources and responsibilities to the region’s local leaders and we look forward to having an even stronger relationship with the mayor who understands and backs the economic landscape.
“Businesses want fairness and consistency. It’s that straightforward and that will always be our ask. We understand that global influences will always impact on businesses, and we will always be responsive and flexible.
“Closer to home, where we do have some control, companies want to feel listened to and they want some long-term assurances that government won’t endlessly change the rules that will impact on how they operate and their future plans.
“Chamber members tell us that they want actions not words and that we need to work together, in partnership with one another and with regional and national government, to make things happen at pace. And pace being the operative word!”
And Corin Crane, the chief executive of the Coventry and Warwickshire Chamber of Commerce, has also backed the plan.
He said: “There is a real momentum in the region and we are right behind the
Mayor’s plan for growth in the West Midlands.
“Businesses have been calling for a long-term plan at a regional and national level for many years and it’s great to see these coming forward.
“I am really pleased to see that culture and creative industries are a big part of the plan but also a reflection of how important the automotive sector continues to be in our region. It needs as much support as possible.
“It feels like the region is ready to take off economically and this plan can be the springboard for that.”
