Senior politicians and business leaders across the West Midlands are hailing the country's biggest devolution deal to date. The proposed agreement with government will see it make an annual contribution worth £40 million for 30 years to support an overall investment package worth £8 billion, which alongside the creation of up to half a million jobs.
The proposed deal will give the emerging West Midlands Combined Authority (WMCA), working across the geography of the three Local Enterprise Partnerships (LEPs), the funding and the powers to further grow the regional economy and focus on the issues that really matter to the people and businesses of the region; transport, jobs, skills and homes.
The proposed agreement with government will see the WMCA responsible for an investment package worth more than £4 billion to deliver the HS2 growth strategy, with the potential to add £14 billion to the area's economy as well as the creation of around 100,000 related jobs. This will support the delivery of the metro extensions to Brierley Hill and HS2 interchange, as well as the UK Central infrastructure package and improving connectivity to Coventry.
Image courtesy of http://www.westmidlandscombinedauthority.org.uk/