Midlands Engine showcases more than £48 billion investment opportunities at UKREiiF
The Midlands Engine Partnership came together at this year’s UK Real Estate Infrastructure Investment Forum (UKREiiF)to showcase to a global audience partner priority investment propositions worth in excess of £48bn and with the potential to create around 380,000 jobs – more than doubling current jobs in the region.
For the first time, the Midlands Engine Partnership hosted its own pavilion giving local authority, business and university representatives a platform to present investment opportunities from across the Midlands.
Panel discussions covered diverse topics from how Lincolnshire is powering the low-carbon energy sector, and how multiple developments will rejuvenate Derby city centre, to how Worcester’s Shrub Hill Development Panel sessions in the pavilion were followed by the Midlands Investment Reception on Tuesday evening. An established event at UKREiiF, the Reception featured a welcome from Sir John Peace and the newly elected combined authority mayors – Richard Parker for the West Midlands and Claire Ward for the East.
Midlands Engine partner priority propositions can be accessed through the Midlands Investment Portfolio, updated for 2024.
Newly added propositions include: St George’s’ development site in Wolverhampton city centre; Nottingham Studios, home to the recently launched R&I hub; and Sandwell’s ‘Grove Lane Masterplan’, a key regeneration area delivering more than 800 new homes in Smethwick.
Altogether, the updated portfolio showcases the 90 most significant capital investment opportunities in the Midlands across a range of sectors, with a Gross Development Value over £48bn.
Presenting a clear, easy-to-use tool for investors, the sites within the Portfolio have the potential to create 380,000 jobs, driving economic and social prosperity across the Midlands region.
Sir John Peace, Chairman of Midlands Engine, said:
“The potential for the Midlands to lead the way in driving national economic growth is hugely significant. UKREiiF continues to provide the Midlands Engine Partnership with the platform it needs to demonstrate to global investors that investing in the Midlands and its exceptional development opportunities is a sound business decision.”
A campaign demonstrating how university research and development can be the catalyst for investment in the region was also officially launched at the Midlands Investment Reception at UKREiiF.
The campaign, co-led by Midlands Innovation and Midlands Engine, presents five investment prospectuses – each with a focus on a sector where the Midlands leads the world in R&D: agri-tech, creative and digital, health and life sciences, transport technology and zero carbon energy.
Speaking at UKREiiF, the Minister for Science, Innovation and Technology, Andrew Griffith MP, announced an award of £1.5 million from the UK’s International Science Partnerships Fund (ISPF) to support the campaign over the next two years. This is being matched by regional partners to provide £3 million.
The Minister said: “UK universities have directly attracted nearly £5bn of international industry funding into their research since 2015. But they are also a significant part of the UK’s global reputation as one of the world’s most innovative economies – attracting global investment that grows our economy and improves lives for people across Britain."The Minister said: “UK universities have directly attracted nearly £5bn of international industry funding into their research since 2015. But they are also a significant part of the UK’s global reputation as one of the world’s most innovative economies – attracting global investment that grows our economy and improves lives for people across Britain.
"I am delighted to announce £1.5m of Government support from the International Science Partnership Fund for this pioneering Campaign – led by our world-class universities in the Midlands. With this support, and working in partnership with the Government’s Science Innovation Network, universities will leverage their extensive global connections to alumni, industry and research to help drive inward investment into the regional economy."
Sir John Peace, Midlands Engine Chairman, said: “Our universities continue to be drivers of innovation with huge potential to attract investment from across the world. This campaign – the first of its kind – puts Midlands universities at the forefront of driving growth in the regional and wider UK economy.”
