As many as 52,000 additional digital tech jobs are predicted to be created by 2025 in the West Midlands – the UK’s fastest growing region in the digital sector – according to a new government report.
Released ahead of Birmingham Tech Week, the new report recognises the region as a top performer for digital growth, with it expected to add as much as £2.7bn to the economy by 2025.
The speed of growth in the West Midlands in digital areas has been rapidly accelerating, with tech growth in the region growing by an average of 7.6% per year between 2014 and 2019.
The 52,000 additional roles expected to be created over the next four years are a 55% increase on 2019.
The new figures were compiled by analysts and experts from job search engine Adzuna, on behalf of the UK’s Digital Economy Council, a non-statutory advisory committee of independent members set up to provide advice to the government.
Tech investment platforms have also highlighted the West Midlands as an area of significant growth and promise, suggesting tech companies in this region are on track to raise more venture capital investment in 2021 than they did the year previous. Already this year, £454m in venture capital funding has been raised this year. At the same stage last year, it was at just £358m.
The West Midlands was recently named as one of the areas set to benefit from the government’s £5bn Project Gigabit - the biggest broadband rollout in British history.
Digital Minister Chris Philp said: “As Birmingham Tech Week kicks off it’s great to see the digital sector in the West Midlands entering a golden era.
“There are high-quality and well-paid job opportunities for those who want to pursue a career in tech and the region is fast-becoming a powerhouse of digital talent.
We are determined to level up the country and we are working around the clock to back digital businesses with pro-innovation policies to boost digital skills and create jobs so everyone can benefit from this dynamic sector.”
Kim Leary, Birmingham Tech Week Chair, added: “The tech sector in our region is booming. We have a huge number of successful start-up and scaling businesses and a growing ecosystem powering FinTech to EdTech.
“Everyone has been working hard to shine a spotlight on the West Midlands so there’s a real sense of celebration and collaboration across the city.
“For me, this is particularly exciting to see and I’m proud that Birmingham Tech Week is able to play a vital role in this.”
This week, PSE is hosting it's latest virtual event all around public sector digital transformation - including an entire panel devoted to the digital workforce. Join us on October 14, 2021.