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Black Country and Coventry City Deals ‘worth £220m and will create 25,000 jobs’

Black Country and Coventry City Deals ‘worth £220m and will create 25,000 jobs’

🕔12.Dec 2013

Deputy Prime Minister Nick Clegg has announced details of two City Deals for the Black Country and Coventry and Warwickshire which he said would generate £220 million of investment and create 25,000 jobs.

Mr Clegg said the agreements between Government and the LEPs were not “pointless Whitehall jargon” and had the ability to deliver a stronger and fairer economy.

He added: “We’re giving cities the freedom, powers and tools to be really innovative and design whole new ways to build a stronger economy and fairer society.

“These deals put the power in the hands of local people who know best what skills are needed and how to make sure young people are prepared to take advantage of the opportunities that economic growth will bring.”

The Black Country City Deal will:

  • Bring around £130 million of private investment to the Sandwell,      Dudley, Wolverhampton and Walsall.
  • Create 5,800 new manufacturing jobs in the next 4 years and 1,500      apprenticeships in high value manufacturing jobs.
  • Create a new Black Country Investment Fund to help develop key      industrial sites.
  • Develop a programme to work intensively with 2,800 long term      unemployed social housing tenants in the area.

The scheme is expected to move at least 900 people into employment, reduce welfare benefit costs by £1.1 million and increase wages by £19 million, Mr Clegg said.

Greg Clark, Minister for Cities, said: “This City Deal is a landmark achievement. Made in the Black Country has always been a mark of high standards at the cutting edge. This deal is made in the Black Country – proposed by the united voice of local businesses and civic leaders – the government has given it a resounding yes.

“The jobs that it will create, the commercial sites it will unlock and the skills it will provide to young people and the long-term unemployed will put the Black Country in a prime position to take advantage as the economy turns the corner.

“I pay tribute to the way in which business and civic leaders across the Black Country have pulled out the stops to develop this hugely important deal, and I look forward to my visit to the region in the New Year.”

The Coventry and Warwickshire City Deal will:

  • Create over 15,000 new jobs by 2025, of which over 8,800 will be in the advanced manufacturing and engineering sector.
  • Provide over £90 million of public and private sector investment.
  • Establish a Shared Apprentice Scheme which will see apprentices      gaining work-based training in a number of small and medium-sized      enterprises.
  • Set up a new Skills 4 Growth programme which will tackle skills      gaps for small and medium-sized enterprises in the advanced manufacturing      and engineering sector.

Mr Clark said: “Coventry and Warwickshire is world renowned for advanced manufacturing and engineering. Businesses in the area can create high quality jobs for local people for years to come.

“This City Deal has been proposed by local businesses, civic leaders and universities. It will support advanced manufacturing and engineering businesses that want to expand, export and innovate.

“ It will help ensure that as order books fill, local people have the skills to take up the jobs that have been created. I look forward to being in Coventry and Warwickshire in the New Year as we will put this deal into effect.”

Cover Image: via LeftFootForward

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