Plan for Growth
After forging a position as the fastest-growing region outside London in the decade to 2019 and breaking through the £100 billion economic output mark, the region’s industrial mix and demography meant we were hit particularly hard by the economic impact of the Covid pandemic and new trade frictions with the EU.
The West Midlands Plan for Growth sets the path to returning to that trajectory, spreading opportunity and jobs across the region and helping level-up the UK.
Clean and inclusive economic growth is driven by the private sector, with public authorities helping to create the conditions for investment and prosperity. In the West Midlands, we know that must be a joint effort.
The private sector plays a critical role, finding commercial opportunity, driving investment and creating wealth. The Combined Authority brings regional leadership with a scale and simplicity helpful to business while also reflecting the different needs and opportunities of different towns, cities and rural areas across the region.
It has proved effective in setting long-term direction and confidence, along with troubleshooting immediate issues such as the response to the pandemic, EU withdrawal and dealing with energy price increases. Working in conjunction with local authorities and universities as local anchor institutions, the Combined Authority will deliver conditions for growth through:
- New powers over economic development
- Transport investment
- Housing and land investment
- Pioneering new approaches to regeneration
- Working with investors
- Net zero
8 Primary Clusters
These are clusters where the West Midlands has a comparative advantage and businesses are confident to invest.
Combining the power of private and public sectors around these opportunities gives the region a credible path to returning to being the fastest-growing region in the country outside London.
- Creative Content Production and Gaming
- Health Tech and Med Tech
- Professional & Financial Services and Supply Chain
- Logistics and Distribution
- Modern and Low Carbon Utilities
- Manufacture of Future Housing
- Manufacturing of Electric Light Vehicles and Associated Battery Devices