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West Midlands Levelling Up Growth Prospectus

Section B: Rebooting the Economy

Rebooting the Economy

Rebooting the Economy 

Pre-pandemic, the West Midlands was the fastest growing regional economy outside London. However, to return to this position, we must address the underlying productivity challenges we face and create more higher-paid local jobs. 

To do this, we need new powers to reboot economic growth. 

We need a new model of consolidated, co-commissioned business support and, building on our Innovation Accelerator, we need to secure our fair share of public R&D investment. 

We want to work closely with UKRI to unlock opportunities in health tech and growing low carbon technologies, and our Global West Midlands programme requires a new relationship and support from the Office for Investment. 

Crucially, our 16,000 energy intensive SMEs require a unique approach to addressing escalating energy costs and making the low carbon transition. 

The West Midlands economy has the potential to be the engine room of the UK’s green industrial revolution.

"A strong economic recovery is at the heart of levelling up where everyone contributes to, and benefits from, growth. Increasing jobs growth, investment and productivity will drive the wider social outcomes of the levelling up agenda and the Government’s key missions." - West Midlands Regional Business Council