The West Midlands economy has been given a £120 million boost
thanks to a business and tourism support programme that brought
tens of thousands of visitors to region while creating thousands
of new jobs and training opportunities.
Mayor Richard Parker's plan to reignite the regional economy has
been bolstered by more than £70m of new business investment
driven by the West Midlands Combined Authority's (WMCA) Economy,
Trade and Tourism Programme.
The programme included an inward investment campaign and targeted
support for businesses which has helped more than 250 businesses
to grow and find new markets, creating or safeguarding around
12,000 jobs.
The career prospects of another 11,000 local people have been
significantly improved through jobs skills training, helping them
find jobs, get onto training and work experience programmes, or
study for a new qualification.
And 10 cultural and sporting events, held here over the past year
thanks to funding from the Major Events Fund, were attended by
300,000 people, giving an estimated £19 million boost to the
economy.
The Economy, Trade and Tourism Programme was funded through the
WMCA's Commonwealth Games Legacy Enhancement Fund.
The Mayor said: “Our Economy, Trade and Tourism Programme has
delivered real results. It's helped hundreds of local businesses
grow, created new jobs, and trained thousands of people with the
skills they need to get ahead.
“We've seen a real boost to our arts, culture and tourism too,
with major events bringing in visitors and shining a light on
local talent.
“After years of stagnation, the West Midlands economy is finally
picking up pace. My regional growth plan will build on this
momentum and deliver the growth and prosperity we need, and make
sure the benefits are felt by everyone.”
The programme included a package of tailored support that
successfully unlocked barriers faced by 50 businesses with high
growth potential – putting them on track to boost investment and
turnover by £20m.
Bolstering the Mayor's Growth for Everyone priority, the support
given to 150 social enterprises and community owned businesses
helped increase their trading income by a combined £8 million,
creating 215 local jobs and improving more lives in the
communities they serve.
The creative industries and cultural sector also benefitted with
specific skills and business support and direct grants for more
than 100 early and mid-career freelancers, small cultural
organisations and creative businesses, alongside funding for
community events to boost high street footfall.
The 10 major cultural and sports events backed with funding
included two major esports events, the Kabaddi World Cup and the
European Judo Union Junior Cup.
The Major Events Fund also supported the annual Black Country
Festival, the Godiva Festival and Reggae Fever Caribbean Festival
in Coventry, Birmingham Weekender and the Urban Sports
Xperience in Wolverhampton.
Ashok Das, president of both the England Kabaddi Association and
World Kabaddi, and a resident of the West Midlands, said: “It was
an honour for the England Kabaddi Association to help in
organising the Kabaddi World Cup here in the West Midlands.
“The support from the Commonwealth Games legacy fund was
instrumental in making it happen, helping us attract record
crowds and shine a global spotlight on the region. We hope it's
ignited lasting interest in kabaddi and inspired more local
communities to get involved in the sport.”
The two flagship Games venues - Sandwell Aquatics Centre and
Alexander Stadium - have been given funding to help them continue
to deliver sports and physical activities for local people,
creating jobs and preparing them to host future major events,
starting with next year's European Athletics Championships.
The £70m Commonwealth Games Legacy Enhancement Fund was managed
by the WMCA with funding from the Department for Culture, Media
and Sport (DCMS).
Businesses are continuing to be supported to grow, adopt digital
technologies, transition to new supply chains, and access funding
opportunities through Business Growth West Midlands (BGWM).
Contact a local business growth advisor at www.businessgrowthwestmidlands.org.uk.
