MIG flip.indd 1 flip.indd MIG 06/04/2018 15:16 06/04/2018 MIDLANDS BUSINESS INSIDER www.midlandsbusinessinsider.com SPONSORED BY SPONSORED MAY 2018 MAY INVESTMENT GUIDE GUIDE INVESTMENT midlands businessinsider THE MIDLANDS MIDLANDS THE WEST ™ MIDLANDS insiderEDITION VOL.26 NO.5 £10 MAY 2018 COMMONWEALTH GAMES GAMES COMMONWEALTH | INVEST IN COVENTRY INVESTINCOVENTRY | FURTHER EDUCATION SPECIAL FURTHEREDUCATION | PHARMADEALS | EASTMIDLANDSDEALSREVIEW | MIDLANDSINVESTMENTGUIDE Palmer’s people Click Travel’s Jill Palmer: putting the personal into travel tech VOL.26 N VOL.26 O 5 PLUS: BIRMINGHAM COMMONWEALTH GAMES 2022 AND TRADING WITH THE COMMONWEALTH MBI May 18 cover.indd 1 06/04/2018 15:20 20/03/2018 17:37 20/03/2018 1 Advert_A4.indd Insider EMA_Business Find out more: eastmidlandsairport.com more: out Find Why choose anywhere else? anywhere choose Why your business to its global supply chain 24 hours a day, 365 days a year. a days 365 day, a hours 24 chain supply global its to business your Our lowest connect we clock, the around operating operation cargo air-freight pure largest the with And journey starts with us. with starts journey Property ever rate from exclusive your Parking, Premium and access, Lounge Immigration, and Security FastTrack With 5.99%* grow. to business your for platform the provides portfolio or Airport Midlands East destinations, business key to flights with Midlands, the of heart the In a semi-detached in Glasgow? 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Call your local expert on 0121 396 1477 or visit togethermoney.com/localexperts For professional intermediary use only. *Other fees and charges apply and are variable based on the loan amount MBI May 18 cover_SASHES.indd 4 06/04/2018 15:25 SPONSORED BY INTRODUCTION WELCOME TO THE MIDLANDS INVESTMENT GUIDE Sir John Peace, chairman, Midlands Engine One year on from the launch of the Midlands Games and Coventry becoming UK City of 3 Automotive Engine Vision for Growth, the region is in Culture in 2021. its strongest position yet to lead on the work to Recently the Midlands presented its success 4 Creative industries rebalance the British economy, as the UK story in the south of France to nearly 5,000 looks to shape a new relationship with the EU visitors at MIPIM, the leading property expo, and with the wider world. highlighting £11bn of investment opportunities. 7 Advanced Home to over 10 million people and 440,000 Since launching the fi rst Midlands Engine engineering large and small businesses, the Midlands Investment Portfolio, we have seen strong & manufacturing has huge potential and the Midlands Engine overseas interest in many of the projects. Partnership is focused on its One recent notable devel- 9 Rail global success. opment is the Worcestershire As a Midlander and “ I am convinced that the 5G Consortium’s success 11 Construction businessman, I know very well UK’s future economic in securing £4.8m from & real estate how much this region has to government to take its 5G prosperity can be driven offer. I am convinced that the testbed project forward. This 13 Energy & low UK’s future economic pros- by the Midlands’ industry, will ensure the Midlands carbon perity can be driven by the Engine is at the forefront innovation and energy.” Midlands’ industry, innovation of connectivity and digital 14 Agri-tech, food and energy. infrastructure, driving forward & drink We are home to some of the country’s leading new 5G business opportunities and developing businesses in traditional and leading-edge a homegrown 5G skills base. 15 Healthcare sectors. We host some of the most exciting Thousands of businesses, meanwhile, are & life sciences startups, outstanding infrastructure projects and being offered new sources of fi nance through the most innovative academic institutions. We the Midlands Engine Investment Fund. have an enviable and I believe unparalleled offer The Midlands is open for business and we 17 Professional to trade partners, investors and those who live here. are very confi dent about our future. There is no services We have an opportunity to capitalise on doubt we are a region that is one of the best events that will put us on the world stage, with places in the world to live, run a business, learn 18 Aerospace Birmingham hosting the 2022 Commonwealth and raise a family. 1 p1 MIG intro.indd 1 10/04/2018 12:31 ADVERTISING PROFILE THERE’S SOMETHING ABOUT THE MIDLANDS ENGINE Described as the ‘UK’s new growth capital’, with investments such as HS2, Commonwealth Games and City of Culture accolades, the momentum to deliver long-term economic growth remains strong The Midlands Engine covers a consid- compared with the previous year – erable area. Powered by over 10 million the largest absolute increase of any people, it contributes £220bn to the UK UK region. Looking ahead to 2020, economy and accounts for 19% of all total employment in the Midlands UK exports going to over 100 countries – is expected to increase by 0.35% per making the Midlands one of the highest year – just behind the UK average regional exporters in the UK. of 0.4%. The Midlands Engine plays a vital role However, with Birmingham hosting in the UK’s economic prosperity and has the Commonwealth Games in 2022 an unrivalled plan for regional growth and Coventry announced as City of and connectivity that will help to boost Culture in 2021, we expect an economic the economy both locally and across and employment boost to both cities and the UK. the wider region leading up to 2020, as The Midlands has also attracted a well as a likely boost in 2021 and 2022. significant amount of investment that Looking at the experience of Hull has boosted the region’s economy and being City of Culture in 2017 suggests will contribute to the growth ambitions a boost to GVA of over £50m is possible, of the Midlands Engine. The Chancellor with the potential to create more than announced in the Autumn Budget 1,500 jobs. Glasgow’s hosting of the transport commitments such as the 2014 Commonwealth Games reportedly £1.7bn Transforming Cities Fund and created 6,000 jobs and provided a £52m a second devolution deal for the region, boost to the economy through while a manufacturing zone will be construction work. piloted in the East Midlands to drive business investment and productivity. Simon O’Neill, Managing Partner, EY Midlands What’s next for the Midlands Engine? The first ever Spring Statement in March Mayor of the West Midlands, Andy Street 2018 also announced a housing deal between 2018 and 2020, with 1,400 fewer recently announced the West Midlands to build 215,000 homes in the West jobs forecast in the sector by 2020. Investment Prospectus at MIPIM, offering Midlands by 2031. The next decade will see an acceleration up to £10 billion of opportunities to invest in the pace of technological change like in what Andy Street called the ‘UK’s new Attracting global investment no other and the technological revolution growth capital’. The Midlands continues to attract a wave in manufacturing is set to fundamentally The Investment Prospectus provides of overseas investors, confirming the transform the way in which manufacturers investors with a clear road map for joining region’s strength as an international busi- make, distribute and sell their products. the hundreds of companies relocating ness and investment destination. Research This digitisation of manufacturing will to the region and should serve to attract from EY’s UK Attractiveness Survey shows create new opportunities for growth, more businesses and skilled people that the Midlands continues to attract as well as its challenges, but employment to the region, which in turn will boost record levels of inward investment, with is expected to be impacted as technology employment and productivity. over 50% of projects coming in the manu- is used to boost productivity. The Midlands Engine needs to facturing sector. build momentum and use high profile Manufacturing remains the region’s Boost to employment and investments such as HS2, Commonwealth core strength and continues to underpin economic growth Games and City of Culture as a catalyst economic activity, however, our forecast EY’s Regional Economic Forecast tracks for growth to deliver the long-term predicts that the pace of job creation in the employment in the region, with 171,000 economic growth that we need for the manufacturing sector is expected to slow more Midlands jobs recorded in June 2017 economy of the future. For further information: Direct: +44 121 535 2489 | Email: [email protected] MIG p2-3 automotiveindd.indd 2 06/04/2018 15:41 SPONSORED BY AUTOMOTIVE ADVERTISING PROFILE THERE’S SOMETHING ABOUT POWER AND DRIVE The Midlands is the centre THE MIDLANDS ENGINE of the UK automotive sector, worth £8bn per year, with Described as the ‘UK’s new growth capital’, with investments such as HS2, Commonwealth Games and 885 companies and 60,000 City of Culture accolades, the momentum to deliver long-term economic growth remains strong employees. The West Midlands accounts for 40 per cent of the UK motor The Midlands Engine covers a consid- compared with the previous year – industry’s total output and is erable area. Powered by over 10 million the largest absolute increase of any home to the country’s largest people, it contributes £220bn to the UK UK region.