Major scheme to attract billions of investment funds into Birmingham has ‘captured the imagination’ of businesses and government, Mayor claims
A major initiative to attract billions into Birmingham has ‘captured the imagination of businesses and government’.
The new Birmingham East Mayoral Development Corporation (MDC) was backed by members of the West Midlands Combined Authority (WMCA) Board and described as a ‘major milestone’ for the city.
The MDC aims to attract billions of pounds into the area and create tens of thousands of jobs. A report to the board said it is anticipated the new body would be be fully established in May.
It aims to give investors speed, scale and certainty and help bring major schemes forward. It will bring together planning powers, land, funding and delivery under one roof and cut bureaucracy.
This new corporation is being created by West Midlands Mayor Richard Parker and Birmingham City Council leader John Cotton.
Huge projects incorporated within the MDC area include the £3 billion Birmingham Sports Quarter, the £4 billion Birmingham Knowledge Quarter, the HS2 station at Curzon Street, the £2 billion Smithfield development, and a major creative industries hub in Digbeth.
East Birmingham suffers from huge deprivation and a report said, of its 375,000 population 28.8 per cent of adults have no qualifications, 27.3 per cent have never worked (more than double the national average) and child poverty is almost 50 per cent.
At the WMCA Board meeting, Mayor Richard Parker said: “It’s a really important initiative and it’s captured the imagination of businesses investing here and Government.
“I want to work with everyone to ensure the benefits accrued are for the whole region and I’m up for discussions with other council leaders about the way we can use this type of approach to support investment across the wider region.”
Birmingham City Council cabinet member for environment and transport Majid Mahmood added: “It’s a major milestone for the city and I welcome the report.
“East Birmingham has some of the most persistent socio-economic challenges including people with no qualifications and child poverty.”
The development was also welcomed by Solihull Council deputy leader Ian Courts who said: “This is a great step forward.”
