The government has announced funding to enable the West Midlands to focus on accelerating its advanced manufacturing capabilities.
The Ministry of Housing, Communities and Local Government made the announcement yesterday, stating that this year’s funding for two Mayors’ Investment Zones will be released, delivering high quality jobs and attracting private sector investment, focusing on advanced manufacturing in the West Midlands and life sciences in West Yorkshire.
Investment Zones have been established in a number of Combined Authorities in England, combining tax incentives and flexible funding for research and development, skills, business support, local infrastructure and planning.
The announcement follows the news last week that devolution agreements for four UK regions will progress. Under the plans, local leaders in Hull and East Yorkshire, Greater Lincolnshire, Lancashire, and Devon and Torbay have greater say over decisions that benefit their communities and harness the unique potential of their areas.
The government added that it will deliver devolution for all corners of the country, with a commitment to deliver full devolution across the North.
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