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Midlands begins £14bn investment drive

Planning - Midland Engine economic powerhouse - SantanderCB

Business secretary Sajid Javid is to lead a campaign to create a Midland Engine economic powerhouse which will aim to attract £14.4 billion worth of investment from around the world. The initiative will be launched at the MIPIM property jamboree in Cannes, France, with local leaders from across the Midlands presenting potential projects for global investment to some of the most famous, and richest, international property developers in the world. Schemes on display will include the building of 4,000 new homes around Birmingham's planned new HS2 station, a technology campus in Coventry and a new motorway junction in Lincolnshire. It is hoped that the investment will create 178,000 jobs. The Midlands is the largest economic region outside of London, and has attracted 880 foreign direct investment projects over the last four years. It generates £222bn to the UK's economy, an increase of 30% in the past decade.

 

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