Major jobs boom and growth predicted across West Midlands in new report
A huge West Midlands jobs boom and the economy boosted by billions is being predicted in the next decade by an independent report.
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The Universities of Warwick and Birmingham commissioned the report which has found the region has the potential to create nearly 100,000 new jobs and deliver an extra £6.5 billion to the UK economy by 2035.
Mayor Richard Parker said the report, which comes ahead of the West Midlands Regional Growth Plan being published in June, confirmed it was a region of ‘real opportunity’.
The report by policy, research and strategy consultancy Public First sets out a vision of economic renewal grounded in advanced manufacturing, green energy, electric vehicles, logistics, professional services and digital innovation.
Their analysis, based on other regions which have taken action and increased productivity and employment growth in the same sectors, predicted:
Up to 99,000 additional jobs across key industries, nearly double current projections
Growth outpacing the UK average, reversing a decade-long trend of regional underperformance
A £6.5 billion increase in annual growth, generated through focused investment in high-productivity sectors
It showed how each of the seven West Midlands local authorities – Birmingham, Coventry, Dudley, Sandwell, Solihull, Walsall and Wolverhampton – and the region’s universities had a part to play in driving economic growth.
Richard Parker, Mayor of the West Midlands, said: “This report confirms what I, and others, have been saying for a long time – when we back the West Midlands to succeed, we can deliver real jobs, real growth and real opportunity. And we can do that in every corner of the region.
“After almost a decade of under-performing on growth – below the national average – we need a focus on our key industries that can be the catalyst we need to become a region of global significance.
“The foundations are here: world-leading sectors, incredible universities, brilliant people and a clear plan. Now is the time to deliver and my Regional Growth Plan will do just that.”
Rachel Wolf, CEO at Public First, said: “Our modelling shows that this is a place currently under-performing compared to its potential.
“Learning the lessons from international comparators could significantly increase productivity and jobs in the region – giving the West Midlands a clear route forward.”
Professor Stuart Croft DL, Vice-Chancellor and President of the University of Warwick, said:
“I am proud that The University of Warwick has been able to contribute to the development of this report, which provides a coherent economic narrative for the future of our region.
“Warwick, is, of course, a global success story. In its 60-year history the University has established itself as one of the leading universities in the UK, and is ranked in the top 100 of universities worldwide.
“We have a major role to play in the region, contributing to regional economic and social development and helping to shape the way ahead.
“With that commitment, we will continue to collaborate with partners across the West Midlands to ensure the future success of the region.”
The findings also highlight the role of local leadership and devolved powers, showing that many of the levers for growth already sit within the hands of the West Midlands Mayor.
However, the report calls for stronger partnership with central government to maximise the impact of investment and reforms.
The full West Midlands Growth Plan will be unveiled in June, setting out detailed proposals of how the Mayor will unlock the region’s economic potential.
