Regional growth plan marks its first year

The regional growth plan led by the Mayor, Richard Parker, has marked its first year, with figures showing thousands of businesses supported, thousands of jobs created and billions of pounds of investment.

The plan sets out how the combined authority, councils, businesses and universities will work together to grow the economy of Birmingham and the surrounding area.

The headline figures

• 10,000 local businesses supported
• 3,000 jobs created
• 20,000 young people placed into training, work placements or apprenticeships
• 7,237 new homes confirmed with funding from the Mayor, including 2,452 affordable or socially rented homes
• a 3.8 billion pound Futures Fund, launched in May to invest in the region's growth
• a further 1.7 billion pounds committed to major transport projects

What the Mayor said

Mr Parker said: "In just one year we've backed 10,000 local businesses to create 3,000 jobs." He said the region remained "one of the UK's leading destinations for inward investment".

Transport progress

Five new railway stations have opened in Birmingham and the Black Country over the past year, including the three stations on the Camp Hill line in south Birmingham at Moseley, Kings Heath and Hazelwell, which reopened in April after more than 80 years.

The Metro extension to Dudley is progressing, and the region's bus network is being returned to public control. The combined authority is buying the region's biggest bus company from National Express ahead of franchising, which will begin in North Birmingham, Coventry and Walsall in October 2027.

Investment in Birmingham

Birmingham has been named the UK's leading location for growth potential among foreign investors in the Investment Confidence Index produced by the law firm Irwin Mitchell and the Centre for Economics and Business Research. The city scored more than six points ahead of London.

Major projects in the city include the regeneration of Smithfield, the area around the HS2 station at Curzon Street, the Knowledge Quarter in Eastside, where life sciences buildings are being developed, and the planned sports quarter around Birmingham City's new stadium at Bordesley Park.

The challenges

The region still faces significant challenges. Unemployment in parts of Birmingham is among the highest in the country, and many residents lack qualifications. The car industry, an important employer, has been hit by job cuts at Jaguar Land Rover, and businesses are facing higher energy and fuel costs because of the war involving Iran.

Critics also point out that announcements of investment do not always translate quickly into jobs, and that the benefits need to reach the neighbourhoods that need them most.

A growth summit

Business and political leaders will discuss the region's economy at a Growth Summit on Thursday 8 October, sponsored by HSBC, with the property and infrastructure companies Lendlease and AtkinsRealis as partners.

What is the combined authority?

The combined authority brings together seven councils: Birmingham, Coventry, Dudley, Sandwell, Solihull, Walsall and Wolverhampton. It is led by the directly elected Mayor and has powers over transport, adult skills, housing and regeneration, and it now receives much of its funding in a single flexible settlement from the Government.

Devolution debate

The Prime Minister, Andy Burnham, a former Mayor of Greater Manchester, has made moving power and money out of Westminster a central theme of his Government, and mayors are pressing for more control over areas such as employment support and health.