Marketing Birmingham has taken over Advantage West Midlands’ research arm the West Midlands Regional Observatory (WMRO).

The city’s marketing organisation said it had now completed the transfer of the organisation and its assets, after first expressing its interest in taking over the observatory last year.

WMRO has been divested as part of the wind-down of Advantage West Midlands.

Marketing Birmingham said the transfer would help with the city’s inward investment programme, Business Birmingham, and provide potential investors with the information they need to consider the region as an investment location.

It will also inform Marketing Birmingham’s leisure and business tourism campaigns.

Marketing Birmingham chief executive Neil Rami said: "The information that the observatory provides on the region’s economic performance and potential is vital and helps to inform business and policy decisions in the region.

"It is important that this valuable asset is retained and used to encourage growth.

"We will be aligning the observatory’s research activity with our work to attract visitors, investment and jobs to the area."

He said the observatory would continue to work with the private sector on research projects.

"Working with our own partners from across the visitor economy and wider business community, we believe there is an opportunity for distinct projects aimed at understanding the unique nature of the city’s offer as both a tourist and business destination.

"In such a fast changing economic environment, this level of up-to-date data is essential in ensuring our communications and service, as an organisation and as a city, remains focused, current and competitive."

Mark Pearce, corporate director for economic regeneration at Advantage West Midlands, said: "We believe that this transfer ensures that there will be a genuine legacy for the excellent and well-received work that the West Midlands Regional Observatory have undertaken in the West Midlands over a number of years".