Following the budget, Communities Secretary and Bromsgrove MP Sajid Javid has announced a £54 million investment into Birmingham and Solihull.
The money is part of the Greater Birmingham and Solihull Growth Deal and will be used to boost high-tech industries in the region and help train staff to work in them.
The money will also be used to fund several research projects and investment in colleges and training courses.
Speaking at the announcement of the cash boost, Mr Javid said:
“This Government is backing Greater Birmingham and Solihull with this new £54.2 million funding pot. Exciting projects to benefit include new medical research laboratories and a new centre to develop clean energy. This new funding will help create jobs, boost skills and give businesses support.”
It’s thought that the fund will help grow the local economy by £29 billion and create almost 3,000 new jobs.
Steve Hollis is the chairman of the Greater Birmingham and Solihull Local Enterprise Partnership. Speaking to the Birmingham Post, he said:
“In total, the Government’s investment [in this area] now stands at £433 million – a real statement of confidence in our track record of delivery and ambition.
“When combined with the £1 billion of funding we are unlocking through our enterprise zone and the billions of pounds of investment in HS2, we have significant resources to deliver projects that will help support the realisation of our vision to be a global city region by 2030.”