West Midlands Mayor Andy Street says that plans for a new Investment Zone in Solihull could help ‘supercharge’ the local economy, bringing jobs and opportunities for local people.
Mr Street heads the West Midlands Combined Authority, which has just submitted bids for zones across the region, including one at Arden Cross in Solihull (around the HS2 Interchange station) as well as smaller sites in Solihull Town Centre, all focused on attracting private investment to deliver new jobs, alongside housing and town centre regeneration.
Mr Street said: “These new Investment Zones can potentially supercharge economic growth in places like Solihull, so I’m really pleased that, in close collaboration with local councils, we’ve been able to submit such a strong array of options to Government.
“Special economic areas like this have the ability to bring about genuinely transformational change and investment – just look at how the successful enterprise zones in and around Centenary Square in Birmingham have made a real difference.
“The fact is that Investment Zones can accelerate the delivery of tangible improvements for local residents – like boosting employment prospects - and so I’m looking forward to working with the Government to get our West Midlands zones established ASAP.
“These are truly exciting times for the West Midlands.”
The zones would offer tax breaks and other incentives to make it easier, quicker and cheaper for the private sector to do business, helping to attract significant inward investment.
Many of the locations put forward in the West Midlands submission, such as the Arden Cross site, build on the opportunities offered by the HS2 high speed rail line.
They also reflect the Government’s intention to fast track several key transport schemes including enhanced transport solutions for the East Birmingham to North Solihull corridor.