£14bn investment could bring 178,000 jobs to Midlands

£14bn investment could bring 178,000 jobs to Midlands

A bid to attract £14.4bn investment to the Midlands could bring 178,000 jobs to the region.

The plan, dubbed the Midlands Engine Pitchbook, has seen 11 Local Enterprise Partnerships (LEPs) uniting to convince global investors to consider the area.  

Home to major investors including Jaguar Land Rover, HSBC, Deutsche Bank, Toyota UK and Boots, the Midlands is the largest economic area outside of London, and is worth £222bn to the British economy.

The 33 investment opportunities include the HS2 project, a range of prospects adjacent to the Rolls-Royce global civil aerospace and plans to expand the existing Jaguar Land Rover facilities to create a designated technology campus in Coventry.

Business Secretary Sajid Javid said: “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.”

The investment opportunities outlined in the plan have been sourced by the UKTI Regeneration Investment Organisation which has a remit to support job creation and economic growth across the UK.

Sir Michael Bear, chairman of the UKTI Regeneration Investment Organisation, said: “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.

“Our plan has a clear ambition: to attract investors to one of the world’s most attractive business destinations, where they can reap the rewards for decades to come.”