More than £200 million in government funding has been granted to help kick start dozens of shovel-ready projects across the West Midlands.
The capital has been allocated by the Ministry of Housing and will be used for new housing, a construction centre and investment in developing very light rail among other schemes.
A total of £123.8 million has been awarded from the Government’s £900 million Getting Building Fund, which was first unveiled in June and is aimed at investing in housing and infrastructure projects which can be started quickly.
The allocation will support 47 shovel-ready projects across the region including £14.8 million to accelerate development of the new National Brownfield Institute in Wolverhampton.
The institute will be part of the University of Wolverhampton’s £100 million Springfield Campus development on the former Springfield Brewery site and will create a centre of sustainable construction.
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Other projects to benefit include £15.1 million towards the redevelopment of University station in Edgbaston, £10.8 million to provide research labs at the Birmingham Health Innovation Campus in Selly Oak, due to open in 2022, and £12.4 million for Dudley’s Very Light Rail Innovation Centre where new greener and cheaper modes of transport are being developed.
A separate grant of £86.8 million has been awarded to help with the construction of 6,000 new homes on brownfield land across the West Midlands Combined Authority area.
The total investment is expected to deliver up to 20,790 homes and create up to 10,250 jobs in the West Midlands.
Minister for Local Government Simon Clarke MP said: “We remain firmly committed to the Midlands Engine and are backing the region to grow its £250 billion economy and build back better to fuel a green economic recovery.
“That is why we are investing £123.8million in shovel-ready projects in the West Midlands.”
Of the £123.8 million from the Getting Building Fund, a confirmed £66 million has been granted specifically to eight projects within the West Midlands Combined Authority area after it was first announced in July.
Mayor Andy Street, who leads the authority, added: “At a difficult time for the West Midlands’ economy brought on by the coronavirus pandemic, it is great to see the Government putting further cash on the table to help aid our recovery.
“This £66 million from the Getting Building Fund will go towards exciting, shovel-ready, projects that will make an immediate difference by helping to create and secure local jobs for local people.
“As well as an immediate investment to reboot our local economy, the money secured is also an investment in our future to secure the West Midlands’ place as a global leader in green and clean technology, life sciences, transport of the future and construction.
“This announcement is just one part of our much bigger plans to reset, recharge and rebuild the West Midlands economy by investing in the future and retaining current jobs and creating new ones.”