Inward investment into the West Midlands 2009/10 – a local analysis

In 2009/10 there were 84 inward investment successes in the West Midlands and another four knowledge-based investments. These investments created over 1,500 new jobs and safeguarded another 4,300.

Although these 88 investments represented the lowest number of jobs created or safeguarded since 1992/93, they also represented the 7th highest total number of projects since 1991.

Pie chart shows 38 inward investments in West Midlands metropolitan areas and 49 inward investments in the shire counties over 2009 to 2010Inward investment is usually spread reasonably evenly between the West Midlands metropolitan areas and the shire counties. In 2009/10 the shire counties attracted the majority of inward investment projects (55%). See left.

However, the metropolitan areas of Birmingham, Coventry, Solihull, Dudley, Sandwell, Walsall and Wolverhampton have attracted perhaps just over half of the projects over the years – see below. The number of jobs created and safeguarded also generally follows a similar pattern.

Stacked bar chart shows percentage of inward investments into West Midlands metropolitan areas versus shire counties between 1991 and 2010

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Continuing the legacy of the Women’s Enterprise Centre of Expertise

Thanks to Marla Nelson from the Strategic Women’s Enterprise Project for providing this guest post.

A new initiative has been launched in the West Midlands as a legacy project building on the work and findings of the Women’s Enterprise Centre of Expertise (WECOE).

The Strategic Women’s Enterprise Project is managed by Enterprise Solutions, who will continue to influence, lobby and advocate for the women’s enterprise agenda in the West Midlands region, funded by regional development agency Advantage West Midlands.

The project aims to assist Advantage West Midlands in implementing WECOE policy recommendations, and work with Business Link West Midlands and other key strategic partners to ensure policy and practice is mainstreamed in supporting greater diversity in enterprise and business support across the region.  The 2-year WECOE project completed in December 2009.

To find out more about the Strategic Women’s Enterprise Project, and Enterprise Solutions (MN), contact Marla Nelson at marla@enterprisesolutionsmn.com or call 07515 597 595.

New plan to harness £16 billion public spending for local benefit

A new plan that could help local people benefit from £16 billion of government spending in the West Midlands was launched by Regional Minister, Ian Austin, this week.

And he said government spending would be used to boost employment for people in the West Midlands and help access “local jobs for local people.”

The new West Midlands Procurement Framework for jobs and skills has been developed by the West Midlands Economic Inclusion Panel. This brings leaders from across the public, private and third sectors together to find ways to tackle the £3bn output gap ascribed to worklessness in the West Midlands.

Set up in 2008 to address the region’s worklessness challenge, the Economic Inclusion Panel  has focussed on developing a strategic approach to public procurement as a key driver in tackling worklessness. The Observatory’s economic inclusion team works closely with the Panel to provide evidence of the challenges facing the region.

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West Midlands innovation fund delivers eleven-fold return on investment and brings jobs to region

Central Technology Belt - Birmingham - Worcestershire

An independent evaluation of the Technology Transfer Fund (TTF2) (pdf, 431kb) has underlined the value that the SME support fund has played in regional economic growth.

The fund was launched by Advantage West Midlands in 2005 to assist development of small and medium sized science and technology businesses within the Central Technology Belt, the high technology corridor that follows the A38 from Birmingham, through Worcester, to Malvern. TTF2 offered grants of up to £25,000 to more than 150 local companies.

The report (pdf, 431kb) produced by ekosgen on behalf of Advantage West Midlands found that the TTF2 realised more than £25 million of additional net turnover for the businesses it supported, and also created an additional 47 jobs during the two year project lifespan.

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Making the invisible visible: matching West Midlands ICT SMEs with business opportunities

West Midlands ICT Cluster AWMistThis is a guest post written by Brian Prangle with contributions from Andrew Mackenzie.

West Midlands Regional Development Agency, Advantage West  Midlands (AWM) has unveiled its latest initiative to stimulate and develop the high technology sector.

AWMist (A Web Map-based Information Search Tool) is the first regional interface of its kind where collaboration, business opportunity building, and partnerships can be easily forged between the region’s ICT SMEs (Small to Medium Enterprises) and those who can support and assist them, such as funding agencies, universities and business support projects.

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Low carbon housing in the West Midlands

Report coverAn important report in the West Midlands’ aim to achieve its carbon reduction targets was launched on 23rd March 2009.

Low Carbon Housing – developing a baseline for refurbishment in the West Midlands (pdf, 1.59mb) was jointly commissioned by the West Midlands Regional Assembly and Advantage West Midlands.

Amongst the report’s findings was the fact that the West Midlands will need to spend an additional £189.1 million per year on installing energy efficiency measures into homes, which equates to an additional 68,000 tonnes of CO2 a year, if it is to meet its CO2 emissions target.

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West Midlands unemployment rate up significantly

Peter Mandelson and West Midlands TaskforceLatest data released by the Office for National Statistics point to a significant worsening of regional unemployment rate. This is the preferred measure of unemployment as it measures the percentage of those who are economically active but unable to find employment.

The last quarter of 2008 saw the estimated rate of unemployment rise by 1.2 percentage points to 7.7%, taking the annual change up to 1.9 percentage points from 5.8% quarter 4 2007.

The increase is due to an additional 34,000 people becoming economically active but employment growth was virtually static.

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