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Major investment in West Midlands facilities announced

16 March 2018

Councils in the West Midlands have announced funding of up to £10bn to redevelop areas around new High Speed Two rail stations in the region.

Included within this will be new office, retail and residential developments around Birmingham International and HS2 stations in the city centre, with the new high speed rail line due to open in 2026.

Representing local authorities in the area, the West Midlands Combined Authority (WMCA) is aiming to attract both domestic and overseas investors to support the creation of new facilities.

In addition to potential investment in the centre reach of more than £1bn, additional schemes include the Wolverhampton city centre Canalside redevelopment and extension of the current Jaguar Land Rover manufacturing park.

Metro tram extensions will also be delivered by WMCA, using government funding it was allocated last November.

West Midlands mayor Andy Street said the area was proving increasingly popular with foreign investors, showing particular interest in its manufacturing operations.

Further good news was provided by Chancellor Hammond in his Spring Statement, confirming the region would receive £350m funding for new housing to assist in aims to build 215,000 new homes by 2031.

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