For the 2007/08 financial year, figures just released show that Advantage West Midlands, has:
created 17,622 new jobs in the region, and helped 6,000 people to get a job;
created or attracted 1,307 new businesses to the region;
helped 12,240 businesses to improve their performance, and assisted 773 businesses to engage in new collaborations with the UK knowledge database;
attracted £203 million of private sector investment to regenerate deprived
areas;
regenerated 157 hectares of brownfield land; and
helped 21,630 people in their skills development, including 421 through the “Skills for Life” strategy and 562 supported to achieve a level 2 qualification or its equivalent.
Announcing the latest results, Minister of State at the Department of Business and Enterprise, Pat McFadden, said: “At a time of economic uncertainty it is more important than ever that we have strong RDAs supporting business, fostering economic development and helping to create and safeguard jobs in their region.
“This report shows that Advantage West Midlands is doing well and meeting its targets.”
Among the key successes for Advantage West Midlands during 2007-2008 were:
Providing £100 million – the biggest single investment by any regional development agency – towards the redevelopment of Birmingham New Street.
Securing for Birmingham and West Midlands the first digital media fund in England after clinching adeal with Channel 4 to invest more than £10 million in public service digital content
The purchase of a 28-acre former copper works in Darlaston which, once remediated, will create a business park with the potential to create 4,500 jobs.
Attracting Ericsson to be the first tenant at the Ansty Park site in Warwickshire, the first step towards the creation of 5,000 jobs at the site.
Start of construction work on the £50 million G Park Blue Planet project in North Staffordshire, one of the world’s greenest logistics developments
Working to secure record levels of inward investment for the region - Advantage West Midlands was directly involved in 45 projects - an increase of 15 per cent on 2006-7 - which saw 2,846 jobs created and 469 safeguarded as a result of overseas investment.
Mick Laverty, Chief Executive of Advantage West Midlands said: “These results are a tribute to the hard work of staff and the many partners who work with us to deliver economic development and regeneration.
“Projects right across the West Midlands are moving on and delivering transformational change – from Ventureast in Birmingham, to Chatterley Valley in North Staffordshire, Edgar Street Grid in Herefordshire, Worcester University Quarter, Ansty in Warwickshire and i54 in the Black Country.
“I am very proud that working together as a region, we have delivered on jobs and for business and communities.
“The launch of the West Midlands Economic Strategy late last year has put us in an excellent position from which to push on and deliver the performance required to close our region’s £10 billion output gap.”