Ambitious plans to create a quarter of a million new private sector jobs across the Greater Birmingham area and grow the regional economy by £29 billion in a post-Brexit world have today been unveiled.

The Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) has highlighted investment in hi-tech manufacturing, life sciences, financial services and digital and creative industries as crucial to drive jobs and growth in its new strategic economic plan.

Birmingham Enterprise Zone, the revamp of Centenary Square and Snow Hill, the Metro extension to Five Ways, the revamp of the Grand Hotel and the upgrade of roundabouts on the middle ring road as well as many projects throughout the wider region are being backed by LEP.

These projects are seen as crucial to attract new businesses - such as the new HSBC bank headquarters at Arena Central in Broad Street.

GBSLEP chairman Steve Hollis 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 £29 billion, both by 2030, is a clear signal we want to secure greater levels of investment and grow our industrial and employment base over the long term.

“Following the Brexit vote, it has never been more necessary to ensure growth in job creation, output and employment.

“The LEP board is absolutely clear the opportunities of a growing economy are extended to everyone that lives and works here.

“This decisive response will ensure Greater Birmingham can continue to thrive.”

Artist's impression, CGI of plans to revamp Snow Hill Square outside Snow Hill station in Birmingham city centre.
Artist's impression, CGI of plans to revamp Snow Hill Square outside Snow Hill station in Birmingham city centre.

The LEP is a partnership between private business and council leaders which invests government and EU funds to promote and develop business in the region.

The new plan updates previous targets set in 2013, taking account of major new developments such as Brexit and the setting up of the West Midlands Combined Authority and metro-mayor, due to be elected in May.

It is guided by three strategic priorities identified by the GBSLEP as vital to boosting the area’s global competitiveness.

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They include taking greater advantage of our global connections through expansion at Birmingham Airport and the arrival of HS2; becoming a world leader in innovation and creativity, and creating stronger conditions for growth locally by addressing key issues such as the skills challenge the area currently faces - particularly within communities in Birmingham and north Solihull, with persistent rates of high unemployment exceeding eight per cent.

Birmingham City Council leader John Clancy added: “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 the public and private sectors continue to work together to build an offer that stands up against the best, truly global cities.

“This plan clearly sets out what must be done and why. It is the blueprint for our own regional industrial strategy and we must use it as our guide if we are to make a difference to the lives of everyone in our region.”