West Midlands gets £50m funding boost for jobs

A £50m funding boost to create new jobs and grow the economy in the West Midlands has been announced.

The money has come from the Local Innovation Partnerships Fund (LIPF) and will invest in the region's engineering capabilities to support businesses in manufacturing, health and life sciences.

The LIPF is funded by the Department for Science, Innovation and Technology through UK Research and Innovation.

West Midlands Mayor Richard Parker said: "This record amount of funding shows government recognises what we've always known – that this is the home of innovation."

Parker added: "You can see it everywhere. Two centuries on from Watt and Boulton's steam engine, a new generation of trailblazers here is at the forefront of a tech revolution that's unlocking smarter healthcare, better diagnostics and the transition to cleaner energy.

"My job is to keep that spirit alive by backing their talent and investing in cutting-edge research to turn bold ideas into real-world solutions."

Mike Wright, independent chair of the West Midlands Innovation Board, said: "The West Midlands has been building a reputation for innovation, including as a finalist in the European Capital of Innovation competition.

"As one of three regions to pilot the Innovation Accelerator model, we used £43m to support over 1,500 businesses and attracted £78m in private investment."

This news was gathered by the Local Democracy Reporting Service, which covers councils and other public service organisations.

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