The plan highlights the area’s growing sector strengths in advanced manufacturing, life sciences, financial and professional services and the digital and creative industries as key to bringing more jobs, businesses and talent to its towns and cities.
The Strategic Economic Plan 2016 – 2030 updates previous GBSLEP targets set in 2013. These new aims reflect the contribution that Greater Birmingham needs to make to achieve the ambitious goals recently set by the West Midlands Combined Authority.
In a time of change, the GBSLEP’s new Strategic Economic Plan builds on a strong track record. Previous plans have provided the blueprints for the delivery of its £379m Growth Deal, which is funding a range of transport, housing and skills projects across the area, the £275m Enterprise Zone Investment Plan which has unlocked the Paradise redevelopment and the body’s business support vehicle, the Growth Hub.
Steve Hollis, chair of the GBSLEP, said: "Greater Birmingham has put its best foot forward in creating a compelling offer for inward investors in recent years, and our track record speaks for itself. This is the foundation of our thinking on ‘industrial strategy’ and lays out what we must do now to build on our status as the major driver of the UK economy outside of the capital, take advantage of the opportunities presented by HS2 and stake our claim as a truly global business destination.
"To continue the economic renaissance of Greater Birmingham, it is vital to invest in our future. Our plan, which includes creating 250,000 jobs and growing economic output by £29bn, both by 2030 - is a clear signal that we want to secure greater levels of investment and grow our industrial and employment base over the long term."
Cllr John Clancy, leader of Birmingham City Council, said: "With Brexit igniting an even greater need to be known globally as a place to do and grow business, a place where world-class talent and markets can be accessed quickly and easily - it is vital that the public and private sectors continue to work together to build an offer that stands up against the best, truly global cities."
Working with partners, including the WMCA and the Midlands Engine, GBSLEP will now devise an implementation plan for the delivery of the SEP in the New Year.