Mayor Richard Parker to set out West Midlands' next chapter of growth at inaugural summit

Richard Parker, Mayor of the West Midlands, will tell senior business, political, academic and civic leaders that the region is already delivering on his ambitious Growth Plan.

At his inaugural Growth Summit in Coventry next week, the Mayor will set out how billions of pounds of investment has been secured, thousands of new jobs are being created and major public transport improvements have been completed since the Plan was launched a year ago.

Reindustrialisation will be a central theme of the Summit, with the West Midlands looking to strengthen supply chains, accelerate technology adoption, tackle climate change and back advanced manufacturing, while ensuring workers and businesses have the skills they need to seize new opportunities.

The Mayor said: “In just one year we’ve backed 10,000 local businesses to create 3,000 jobs, confirmed Mayoral funding for a record 7,237 new homes, including 2,452 affordable or for social rent, and got 20,000 young people into training opportunities, placements or apprenticeships.

“Our transport infrastructure has also been strengthened with the opening of five new rail stations in Birmingham and the Black Country, and we’re on track to extend the Metro into Dudley and take our vital bus network back into public control.

“And the West Midlands has maintained its position as one of the UK's leading destinations for inward investment despite a challenging global economic climate.

“This is real and measurable change for our people, communities and businesses. This is our region demonstrating that we are a key driver of national growth and prosperity. And this summit is about setting out the next chapter of our growth story.”

The West Midlands Growth Summit will take place on Thursday 8 October and is organised by the West Midlands Combined Authority in partnership with the West Midlands Growth Company, the region’s principle economic delivery agency.

Delegates will also hear how the £3.8bn West Midlands Futures Fund, launched by the Mayor in May this year to drive forward the Growth Plan, has already deployed more than £2.4bn to projects across the region.

The Futures Fund is designed to align public and private capital behind strategic growth opportunities. Its aim is to unlock major development sites for new homes, commercial space and jobs, back growing industries and help attract billions more in private capital, reinforcing the West Midlands’ position as one of the UK's most attractive destinations for business investment and expansion.

Just a month ago John Healey MP, Chancellor of the Exchequer, chose to set out his vision for driving economic growth across the UK at the Manufacturing Technology Centre in Coventry, in his first speech in office.

And a year ago the Mayor and senior government Ministers hosted the UK’s Investment Summit in Birmingham – the first to be held outside London - where almost £1 billion of new private sector investment was announced, alongside the creation of hundreds of new jobs across the region.

The West Midlands Growth Summit is being sponsored by Premier Partner HSBC, Associate Partners Lendlease and AtkinsRéalis, Supporters Rigby Group, M6toll and Birmingham Airport. The pre-summit event has been sponsored by Barclays.

Stuart Tait, Head of Commercial Banking at HSBC: “HSBC UK has a strong presence in the West Midlands and is proud to support the Growth Summit. The West Midlands has the ambition, talent and sector expertise to be a powerful engine of UK growth. By turning discussion into collaboration and investment, the Summit can help local businesses access new markets, build productive partnerships and scale with confidence – creating jobs, strengthening communities and unlocking opportunities.”

John Rayson, MD, Regional Growth Transformation Programme, AtkinsRealis: “We are proud to support the West Midlands Growth Summit, providing a platform to work collaboratively in shaping a place-based approach that drives strong regional economic growth. Together, we can unlock new ways to funding and finance, accelerate investment, and structure clear routes to delivery through effective Public-Private Partnerships.”

Colin Murphy, Project Director, Smithfield Birmingham, Lendlease: "The West Midlands has a clear ambition to drive long-term growth through investment, regeneration and partnership. Smithfield Birmingham is a strong example of what that ambition can deliver – reconnecting a significant part of the city centre, creating new homes and workplaces, and building on the unique heritage of Birmingham's markets. Delivering projects of this scale depends on long-term collaboration between the public and private sectors, and the West Midlands Growth Summit provides an important opportunity to bring together the partners, investors and institutions that will help shape the region's next phase of growth."

Nick Barton, CEO, Birmingham Airport: "This summit is all about showcasing the region's value and opportunity, so we are delighted that the airport is part of that story. The West Midlands region is home to the UK's second city and the airport provides a real growth engine for the area. It is an exciting time for everyone as we celebrate the success so far, but also better understand the opportunities we need to build in order to deliver even more growth for the region and its people.

Michael Whelan, General Manager, M6toll: "We are proud to support the West Midlands Growth Summit, a pivotal event for our region’s future. M6toll is a strategic economic enabler, having generated £400 million in regional value and saving businesses and private travellers 3 million hours annually. This summit is significant because it fosters the collaboration required to deliver next-generation infrastructure, like our free-flow tolling plans, ensuring the West Midlands remains a powerful, resilient engine for the UK economy."

Steve Rigby, Rigby Group CEO: “The West Midlands has always been a region defined by enterprise, innovation and determination. It has played a central role in Rigby Group’s story for more than 50 years, and we continue to be inspired by the talent and ambition that can be found here.

“Bringing together business, civic and community leaders, the West Midlands Growth Summit provides a valuable opportunity to discuss the opportunities ahead. We're proud to support this key event focused on unlocking growth, creating opportunity and helping build a stronger future for the region and the UK economy.”

Paul Faulkner, Vice Chair, Midlands, Barclays: “The West Midlands Regional Growth Summit is the region's flagship investment event and, with devolution high on the political agenda, Barclays is especially proud to be a supporter this year.

“As the region gains greater influence over its economic future, the Regional Growth Summit provides a valuable platform to turn local ambition into investment and growth. Barclays is committed to backing businesses across the West Midlands and helping them fulfil their potential, both within the region and beyond.”