Prime Minister Theresa May has today confirmed a HS2-fuelled £1 billion investment in Birmingham city centre and hailed it as a sign the city is open for business post Brexit.

The investment will see new offices, a tram line and 4,000 new homes built around the planned Curzon Street HS2 rail station, creating 36,000 new jobs and generating £1.4 billion for Birmingham's economy.

The funding will be used to deliver on the Curzon Street masterplan which was first unveiled last year to show how the area could be shaped around HS2.

Birmingham is the first UK city to use HS2's arrival to support investment in regeneration and new development.

CGI of how the Metro would look near the Curzon Street HS2 terminal
CGI of how the Metro would look near the Curzon Street HS2 terminal

Mrs May said: "I'm delighted that Greater Birmingham is making this investment in the future, working to maximise the potential of HS2 by investing in jobs and housing - and encouraging more business investment.

"It was in Birmingham where I outlined my plan to build an economy that works for all, with a proper industrial strategy that delivers prosperity, job creation and higher wages across the country, not just in London.

"That's what the Curzon Investment Plan aims to do in Greater Birmingham and my Government is right behind them."

The lion's share of investment, £586 million, is coming from business investment organisation the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP), with a further £137 million investment from the newly formed regional super-council the West Midlands Combined Authority.

Investment is leveraged through the city centre enterprise zone initiative - borrowing against future business rate income.

And finally £183 million will be invested in a new Midland Metro line linking the existing city centre tram to Curzon Street before running out to the new HS2 Interchange station at the NEC and airport.

This, it is hoped, will link communities to the east of the city with job opportunities in the city centre and the area around the interchange in Solihull.

CGI from inside Curzon Street HS2 Station
CGI from inside Curzon Street HS2 Station

Birmingham City Council leader John Clancy said this was "an unprecedented time for Birmingham and the wider region".

He added: "HS2 is a unique opportunity that we must capitalise on now. Birmingham is at the heart of the HS2 network and the Curzon Investment Plan shows how we intend to use this position to create sustained economic growth and a legacy of new homes, jobs and neighbourhoods for our city."

As well as new homes, the plan proposes 6.45 million sq ft of commercial floor space through the further development of the Eastside district, new public spaces - Curzon Square and Station Square - and a park on top of the Duddeston Viaduct which stretches 1,100 yards.

GBSLEP deputy chairman Steve Hollis said this was a first in the UK.

"The Curzon Investment Plan is the first major commitment by a local area to maximise the impact of HS2," he said.

"It outlines how we will use HS2 as a trigger to transform an area of untapped potential in Birmingham's city core and create thousands of new jobs, homes and places for businesses to thrive."

The Curzon Regeneration Company will take responsibility for driving the delivery of the project.

Established in 2014 with Liz Peace CBE as chairman, it has devised the strategy for the Curzon Investment Plan.