New Industrial Strategy

23rd January 2017

Mark Pritchard has welcomed a green paper on a new modern Industrial Strategy which will support businesses in the West Midlands to grow and create more high skilled, high paid jobs for local people. 

The Industrial Strategy will ensure everyone in the West Midlands can benefit from success through ten ‘pillars’ – including investing in science, research and innovation, and upgrading infrastructure – that underpin a new approach and will identify all of the new opportunities across our economy. This strategy will create the conditions where the winners can emerge and grow in different types of business across the West Midlands.

The modern Industrial Strategy will benefit the West Midlands and proposes:

  • Cultivating our world-leading sectors, including the Advanced Manufacturing & Engineering Sector in Birmingham and Solihull, which employs around 115,000 people and accounts for 60 per cent of the UK’s automotive R&D.

  • Supporting the development of major infrastructure projects, by providing development funding for major upgrades such as the Midlands Rail Hub.

  • Improving access to finance for businesses right across the country to grow, including through the Midlands Engine Investment Fund.

Commenting, Mark Pritchard said:

‘This is an important step in building a modern, dynamic Industrial Strategy that will deliver more high skilled, high wage jobs and improve living standards and drive economic growth across the West Midlands. 

‘Local businesses and workers have the chance to contribute to this vision and submit their views to help us create a high-skilled economy in the West Midlands where businesses can grow and more jobs are created.

‘This strategy will ensure we are backing are business in the West Midlands and ensure more people share in the benefits of its success.’