A major initiative to stimulate the West Midlands economy has been agreed with the Government.

A five-strong team from Coventry and Warwickshire Local Enterprise Partnership, led by local entrepreneur Sir Peter Rigby, has clinched City Deal status after a successful bid to Government.

The proposition designed to stimulate and enable growth has been given the green light by the Government.

City Deal status is designed to put cities and business areas in control of the economic opportunities and challenges they face and to give them increased powers to meet local and regional needs.

The CWLEP’s proposition is centred around the Advanced Manufacturing and Engineering sector with a major emphasis on encouraging growth by making it easier for companies to realise expansion plans through simplifying routes to advice, finance and skills

It has devised a way to provide business with a single point of contact, called the Clearing House, to connect government and educational institutions with businesses.

It will provide access to advisors on key matters relating to business support, access to finance, planning related matters and contacts related to employment requirements and skills.

Sir Peter Rigby said there was a lot of business advice available but it was sometimes difficult to access.

He added: “The Clearing House will present a clear and concise service to ensure companies are directed to the relevant support, quickly and accurately.

“Businesses need to be able to concentrate on what they do best, and this will allow them to do that while also accessing what they need to help them grow.”