With a population of 1.13 million, the city already has the second biggest economy in the UK after London. Professional and financial services, advanced manufacturing and the digital economy are vital sectors. The West Midlands secured a record 171 FDI projects in 2017-18, and created 9,424 new jobs – the only region to see an increase in both figures.
Birmingham is home to the second largest number of tech start-up accelerator and incubator hubs in the UK, as well as the Silicon Canal, Innovation Birmingham Campus, Custard Factory and Steamhouse innovative spaces. HS2 will place the region at the heart of the UK’s transport network, while hosting the 2022 Commonwealth Games has the potential to deliver unprecedented levels of economic growth.
The tech and digital sector is the fourth largest cluster outside London, employing more than 100,000 people.
The Big City Plan is a 20-year City Centre Masterplan. It’s a vision to encourage and support Birmingham’s continuing transformation into a world class city centre. It covers every aspect of the built environment. This includes:
- Creating 1.5 million square metres of new floorspace
- Creating over 50,000 new jobs
- Contributing £2.1 billion to the economy each year
- Creating a well-connected, efficient and walkable City Centre
- Providing 65,000 square metres of new and improved public spaces
- Providing 28 kilometres of enhanced walking and cycling routes
- Providing over 5,000 new homes with new leisure and recreational facilities to attract more families
- Valuing the city centre’s heritage and cultural assets
- Integrating sustainable development and addressing the impact of climate change as part of the future transformation of the city centre
- Delivering five areas of transformation supporting the growth of the City Core.