The plan aims to bring higher wages and better opportunities for working people and also support business leaders and entrepreneurs.
Towns and cities and their high streets will be transformed through a series of major investments including £2.4 billion of improvements to the region’s transport network, according to the plan.
Building on the growth-driving sectors set out the government’s Industrial Strategy, the West Midlands Growth Plan highlights five key industries where the region has a leading edge and significant potential for growth.
That includes advanced engineering, including electric vehicles and battery technology; clean tech and energy; health and medical tech; digital and the creative industries; and professional and financial services.
Corin Crane, the chief executive of the Coventry and Warwickshire Chamber of Commerce, has backed the plan.
He said: “There is a real momentum in the region and we are right behind the Mayor’s plan for growth in the West Midlands.
“Businesses have been calling for a long-term plan at a regional and national level for many years and it’s great to see these coming forward.
“I am really pleased to see that culture and creative industries are a big part of the plan but also a reflection of how important the automotive sector continues to be in our region. It needs as much support as possible.
“The long-term commitment to our Investment Zone is very positive and this will be one of the drivers of growth over the coming years and decades.
“From a Coventry and Warwickshire point of view, it will be interesting to see what shape devolution takes in Warwickshire because that will also impact economic policy across the whole patch.
“But it’s important to recognise that Coventry and Warwickshire are still intrinsically linked the area is home to some world class companies and institutions that would be the envy of the rest of the world.
“It feels like the region is ready to take off economically and this plan can be the springboard for that.”
