03.07.20
West Midlands secures £66m for 'shovel ready' projects
Up to £66m in additional Government funding has been secured by the West Midlands today (July 3) to begin a series of ‘shovel ready’ schemes to support the region’s Covid-19 recovery.
The funding has come through the Government’s Getting Building Fund, and comes in response to a list of infrastructure schemes the region submitted two weeks ago, all with capacity to be underway within 18 months.
The West Midlands Combined Authority submitted the initial list, in collaboration with Greater Birmingham and Solihull LEP, the Black Country LEP and the Coventry and Warwickshire LEP, and will now work together to submit a finalised list of schemes to Government.
Schemes include new railway stations and other transport infrastructure, 5G projects, digital and technology-based projects, life sciences and urban renewal.
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 re-boot our regional economy from the devastating impact of the coronavirus pandemic.
“Infrastructure investment is going to be key to our economy bouncing back quickly from this crisis, and this new £66m funding means we can now press ahead, and in some cases accelerate, a number of important infrastructure schemes for the region.”
It follows the Prime Minister’s ‘New Deal’ announcement, which included £84m for the WMCA to create more housing through repurposing derelict industrial land.
The West Midlands also submitted a £3.2bn blueprint for economic recovery (June 23) which holds potential to unlock over 50,000 green collar jobs create long-term prosperity for the region.
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