Following Sir Roy McNulty’s speech at Advantage West Midlands’ annual conference on Friday 6th, a question and answer session heard many delegates express their wish and determination to find more effective ways of working together to secure the region’s long term economic prosperity.
Sir Roy McNulty, the new Chairman of Advantage West Midlands, invited delegates to join in an hour-long debate after offering his own thoughts on what is causing the relative decline of the region, which has been evident since the mid 1970s. Sir Roy expressed confidence in the direction set by the West Midlands Economic Strategy but asked why, with the assets the region has, the West Midlands isn’t making more from its strengths.
Sir Roy said:
“The facts paint a stark picture of where this region stands today. It is this region’s over reliance on manufacturing, particularly automotive, the low levels of business innovation and growth of new enterprises, the lack of skills relevant to high-value added jobs, and the lack of a culture of lifelong learning, which have exposed us to such a battering during the recession.
“We have a serious need now for active and energetic people, and organisations, to make things happen in this region. I don’t believe our difficulties stem from a lack of strategies, but more from a shortfall in action and execution.
“To really make a difference and regenerate the West Midlands’ economic performance, a renewal of focus is required, a renewal of promises, of commitment, a renewed strength and energy.
“Most importantly we need a renewal of ideas.”
Mick Laverty, Chief Executive of Advantage West Midlands, said:
“While the success of the West Midlands Taskforce and the return of £7.45 for every £1 invested that Advantage West Midlands has achieved with its partners is to be celebrated, the West Midlands economy is currently in a poor shape.
“We are steadily falling behind other regions, we currently have the highest level of unemployment of any region in the UK and our output has just got even bigger, now standing at £15 billion.
“It is time to acknowledge we all need to do better. The harshness of the recession in the West Midlands should galvanise us as never before. The public sector must stop thinking it can do it all by itself without really engaging the private sector. Similarly the private sector has to consider whether it is playing a full part in creating a new economic future for the Region.
“We need to genuinely engage with each other and accept we won’t always agree or we won’t always like what each has to say, but that’s to be welcomed as a sign of mature partnership working that will benefit the region, its businesses and its people.”
Ian Austin, Regional Minister for the West Midlands, said:
“The conference was a great opportunity to take the temperature of the region and see that everyone is keener than ever to see action on the ground to pull the region out of recession.
“Following on from the success of the West Midlands Taskforce, I have decided to set up four Task & Finish Groups to look at specific markets opportunities where we can increase our impact on the regional economy.
“Four areas we need to explore in the future are Advanced Manufacturing, Digital Creative Industries, Healthcare and Low carbon Technologies. I want to bring together the brightest and the best from business, universities and the public sector to drive through the necessary changes.
“I will be appointing high profile chairs for each of the groups to ensure they have the necessary leverage. I want them to act as catalysts in the transformation of the regional economy. I want them to help find the jobs and the opportunities that the people of the West Midlands need to create a prosperous and productive region.”
You can access images and footage from the event, together with copies of the speeches on our website www.awmconference2009.co.uk