By Richard Johnstone | 9 January 2015
Deputy Prime Minister Nick Clegg has signed a growth deal for the Greater Birmingham and Solihull local enterprise partnership, which includes funding to maximise the benefit of the proposed High Speed 2 rail line to the city.
Announcing the £357m package of economic support yesterday, Clegg said the agreement would create 13,000 jobs, allow up to 4,000 homes to be built and up-skill 7,633 people by 2021.
As well as transport improvements to extend of the Midland Metro and introduce a bus rapid transit system to take advantage of HS2, the deal also included funding to support growth sectors, such as the automotive industry and life sciences.
Clegg said the growth deal would provide a major boost to the economy in the region.
‘Growth deals are about local areas leading their own growth, giving more power to people in the regions so we can work together to build a strong economy and a fairer society,’ he added.
Welcoming the agreement, Steve Hollis, deputy chair of the LEP, said it was exciting for the area.
‘As well as maximising the opportunities being presented by HS2, this funding will bring much needed improvements not only to projects in the city of Birmingham, but also to those in the wider LEP area including Kidderminster, East Staffordshire and Cannock, to name but a few.
‘Of particular importance for the region is our target for private sector job creation of 119,000 by 2020 and this year much of our activity will build on the platform that is driving our region’s impressive performance in tackling unemployment,’ he stated.
