Midlands Engine Pitchbook offers opportunities for investment, reports Asian Lite News
The Midlands’ biggest-ever bid for investment has been unveiled – in the shape of a £14 billion Government-backed project.
A total of 11 Local Enterprise Partnerships (LEPs) have united to showcase the Midlands Engine Pitchbook, which has 33 major opportunities for investors, which combined can create 178,000 jobs, 32,000 new homes and 57.9 million sq ft of property space for the region. The LEPs are particularly looking forward to investment from US and China.
The Midlands is the largest economic area outside London, and has attracted 880 foreign direct investment projects between 2011 and 2015. It already generates £222 billion to the British economy, which has increased by 30 per cent in the past decade. The region is already home to major investors including Jaguar Land Rover, HSBC, Deutsche Bank, Mondelez, Toyota UK and Boots.
The business secretary Sajid Javid, who is the ministerial champion for the region, UKTI and local leaders believe the Midlands must open itself up to the world if it is to sustain the remarkable economic growth it has experienced in recent years.
“The Midlands is a region on the rise with a unique offer to investors. From Nestle to Rolls Royce, it is home to some of the world’s biggest companies and boasts a vast pool of talent in industries ranging from advanced manufacturing to food and drink, said Sajid Javid.
The opportunities showcased include the chance to invest in the UK’s most ambitious infrastructure project, HS2, which will see more than 4,000 new homes will be built around the city centre’s HS2 station. It is expected that the regeneration around the HS2 Interchange and Hub in Solihull alone will create over 20,000 new jobs. The Jaguar Land Rover is expected to expand its existing facilities, and create a designated technology campus in Coventry.
The investment opportunities have been individually sourced by the UKTI Regeneration Investment Organisation which has a remit to support job creation and economic growth across the UK through attracting institutional investor funding into large scale regeneration schemes.
Sir Michael Bear, chairman of the UKTI Regeneration Investment Organisation, is believed to have said, “The UKTI Regeneration Investment Organisation has a track record of sourcing the most attractive investment opportunities, and delivering success for investors across the world. The Midlands Engine has grown at record levels over the past decade, and its offer to investors is among the most desirable in the world.”
Andy Street, chairman of the Greater Birmingham and Solihull LEP, was quoted as saying, “Launching the Midlands Engine Pitchbook demonstrates how the region has developed a coordinated approach to targeting new investment; by working together, we have a stronger voice and more compelling story to tell the world. By showcasing our strongest investment opportunities – from HS2 to major residential schemes and Enterprise Zone sites – to key markets such as China, Europe and the USA, I have no doubt that the Pitchbook will help to stimulate even more international interest in the Midlands.”