# The Midlands Engine meets the Northern Powerhouse Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2016-09-30 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Birmingham Investing in Future: Midlands Engine Boosting Meta Description: Discover how Birmingham is embracing the Midlands Engine to boost economic growth post-Brexit, with major projects like HS2 and Curzon Street Station URL: https://financedigest.com/the-midlands-engine-meets-the-northern-powerhousehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/image-16-1736844473104-compressed.jpg) - **Birmingham investing in the future and maximising the potential of HS2 (PM Theresa May)** - **Midlands economy has expanded 30% since the recession (Midlands Engine)** - **Midlands’ devolution set to benefit residents and investors alike (Property Frontiers)** Birmingham, the UK’s second largest city economy, is going back to its roots and investing in a [bright new future](https://www.financedigest.com/german-home-solar-power-firm-sees-bright-future-as-demand-soars.html "German home solar power firm sees bright future as demand soars"). Just as the Industrial Revolution saw the city [reshape itself to meet changing](https://www.financedigest.com/from-boom-to-bottom-and-now-big-change-renault-and-nissan-reshape-alliance.html "From boom to bottom and now big change: Renault and Nissan reshape alliance") times, the creation of the new Midlands Engine is combining with the Northern Powerhouse initiative to boost Birmingham’s credentials and push through a raft of exciting new projects. Similar to the Northern Powerhouse initiative, the Midlands Engine has been created by the [government to boost economic growth](https://www.financedigest.com/growth-will-pay-for-uk-government-spending-plans-minister-says.html "Growth will pay for UK government spending plans, minister says") across the Midlands. Sir John Peace, the first Midlands Engine chairman, the region’s economy has expanded 30% since the recession and deserves Whitehall’s [backing when it comes](https://www.financedigest.com/twitter-asks-some-laid-off-workers-to-come-back-bloomberg-reports.html "Twitter asks some laid off workers to come back, Bloomberg reports") to shaping a new national industrial strategy as the Brexit process gets underway. Still almost in incubator stage compared with the Northern Powerhouse, the Midlands Engine is already beginning to draw together the Midlands’ diverse [local authorities, local enterprise partnerships](https://www.financedigest.com/xledgers-long-term-local-support-for-bristol-sport-a-successful-partnership.html "Xledger’s long-term local support for Bristol Sport – a successful partnership") and 11.5 million population in order to build a post-Brexit future that serves the region as a whole. As the [region’s leading](https://www.financedigest.com/asia-pacific-region-to-lead-the-global-static-shielding-bags-market-fact-mr-report.html "Asia Pacific Region to Lead the Global Static Shielding Bags Market: Fact.MR Report") city, Birmingham is set to enjoy a brighter future as a result of the Midlands Engine. An [upgrade to improve the city’s tram system](https://www.financedigest.com/sweden-to-upgrade-berzelius-supercomputer-with-nvidia-ai-systems.html "Sweden to upgrade Berzelius supercomputer with Nvidia AI systems") forms part of Sir John Peace’s plans, while foreign direct investment is also pouring in. Birmingham has some significant regeneration projects planned, with the £900 [million investment](https://www.financedigest.com/uk-budget-fashion-chain-primark-to-invest-140-million-stg-in-stores.html "UK budget fashion chain Primark to invest 140 million stg in stores") in the Curzon Street Station area topping the list. The scheme will prepare the area for the arrival of the new HS2 railway network, as part of the Curzon [Investment Plan](https://www.financedigest.com/samsung-elec-breaks-ground-on-new-chip-rd-centre-plans-15-billion-investment-by-2028.html "Samsung Elec breaks ground on new chip R&D centre, plans billion investment by 2028"), which will see work take place over the coming three decades, including the creation of several new neighbourhoods. **[Prime Minister](https://www.financedigest.com/factbox-who-will-replace-uk-prime-minister-boris-johnson.html "Factbox-Who will replace UK Prime Minister Boris Johnson?") Theresa May comments,** I’m delighted that Greater Birmingham is making this investment in the future, working to maximise the potential of HS2 by investing in jobs and housing – and encouraging more [business](https://www.financedigest.com/more-businesses-investing-in-assets-like-virtual-credit-cards.html "More Businesses Investing In Assets Like Virtual Credit Cards") investment. At the same time, the chief executives of Greater Birmingham Chambers of Commerce, Marketing Birmingham, Birmingham Airport, MPs and educational leaders have combined forces to petition the Prime Minister to focus on the expansion of Birmingham Airport rather than simply choosing between an extra runway at Gatwick or an extra runway at Heathrow. Along with travel infrastructure [development that is designed](https://www.financedigest.com/the-developments-in-the-fashion-industry-have-driven-the-demand-for-the-garment-design-and-printing-industry.html "The Developments In The Fashion Industry Have Driven The Demand For The Garment Design And Printing Industry") to revolutionise the city, Birmingham is focusing on redesigning its neighbourhoods. The vast Birmingham Smithfield project will see the creation of a fantastic, 21st century market area that will inspire a new generation of traders to honour the city’s ancient [retail tradition](https://www.financedigest.com/the-power-of-digital-why-theres-still-life-in-the-traditional-retail-banks-yet.html "The power of digital: Why there’s still life in the traditional retail banks yet"). Housing projects are also underway across the city, with investment blending government [funds with those of domestic and overseas investors](https://www.financedigest.com/some-uk-property-funds-defer-investor-withdrawals.html "Some UK property funds defer investor withdrawals"). As an important part of the Midlands Engine, Birmingham is set to benefit from the £1.1 [billion promised by Whitehall for the West Midlands Combined Authority as part](https://www.financedigest.com/rheinmetall-wins-quarter-billion-euro-order-for-e-vehicle-parts.html "Rheinmetall wins quarter-billion euro order for e-vehicle parts") of the Midlands’ devolution process. The first £36.5 million has just been transferred. Meanwhile overseas investors are also keen to take an interest. Developments like The Divine Collection, which offers standout buy-to-let apartments in a top location in Digbeth, one of Birmingham’s most popular areas, have attracted keen [interest from foreign investors looking for a healthy investment prospect](https://www.financedigest.com/heightened-interest-in-global-cuisines-to-brighten-the-expansion-prospects-of-herbs-and-spices-manufacturers-industry-predicted-to-rise-at-3-6-cagr-future-market-insights-inc.html "Heightened Interest in Global Cuisines to Brighten the Expansion Prospects of Herbs and Spices Manufacturers: Industry Predicted to Rise at 3.6% CAGR | Future Market Insights Inc. ") in the UK housing sector. **Ray Withers, CEO** of [**Property Frontiers**](http://r20.rs6.net/tn.jsp?f=001Z5ON3oiVcdrK6aiu878Wz3pNl67m0k4Mi20rFChLQLtLoInXcPDfygaR9K5EJ0PYSbJ2joGoi7E2dmqKfHdqCdcwTm8AMCWTMTTDrrIey8ACcA7DrNEcP8eeIdN3xjI4CjIXBCtU-GYOjM-VSMXaNLhsktMYrsy4XKcDxHwjTP_lrY1-nGBOlQ==&c=FvbBKQu1HYXYATgK2uT0GGQH9t2d3wcbwOIcHBeknMK3_5xSVJU4Kg==&ch=qjeG91CKsV8bQizmJ5N2L70R8COoMymFHN4WcBwteds167z8FldNpw==), which is presenting the Divine Collection to the market from £165,000, comments, “The benefits of the Midlands Engine will be widespread. This is an exciting initiative that can both [follow in the footsteps of the Northern Powerhouse and learn from that process](https://www.financedigest.com/seven-golden-rules-to-follow-when-implementing-kyc-process.html "Seven golden rules to follow when implementing KYC process") in order to be even more effective. The devolution of the Midlands is [creating excellent opportunities](https://www.financedigest.com/grain-and-cereal-crop-market-novel-technological-solutions-will-create-lucrative-growth-opportunities.html "Grain And Cereal Crop Market : Novel Technological Solutions Will Create Lucrative Growth Opportunities") for those who live there and for those who invest there. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---