The government has allocated £66m from its Getting Building Fund to infrastructure construction schemes in the West Midlands, in a bid to help boost economic recovery.
The money will be used to accelerate a number of key building programmes identified as ‘shovel ready’ by the region and submitted to central government in June. The list, compiled by the West Midlands Combined Authority and regional LEPs, included railway stations, transport infrastructure, digital projects and urban renewal schemes, all of which could be started within 18 months. The WMCA will now work with the three LEPs to send a finalised list of schemes back to the government.
This is just the latest in a number of measures being taken to help our regional economy recover from the coronavirus pandemic. The WMCA submitted a blueprint to ‘reset, rebuild and recharge’ the West Midlands last month, the Manufacturing Growth Programme has received a funding boost and the Prime Minister recently announced an £84m investment in West Midlands brownfield regeneration (link).
Andy Street, Mayor of the West Midlands, said: “This latest announcement means the West Midlands has now received £150m of Government funding in the space of just three days as we look to reboot our regional economy from the devastating impact of the coronavirus pandemic.”
Think Sandwell will continue to share news of all these ongoing developments. If you’re considering a construction project for your business, visit our Property and Planning pages to find out how we can help.