There is a £1.5bn manufacturing dividend opportunity in the West Midlands, according to analysis by research hub High Value Manufacturing Catapult (HVMC) to coincide with the industrial research hub’s relocation to Birmingham.
HVM Catapult was created by Innovate UK, a government-funded innovation agency. It consists of seven centres across the UK that conduct research into manufacturing technologies, from automation to 3D printing.
The analysis, based on research by the West Midlands Combined Authority and Oxford Economics, underscores the high-growth potential in the region that is also home to an increasing number of technology startups.
HMVC has moved into Innovation Birmingham, part of the Bruntwood SciTech network.
Andy Street, Mayor of the West Midlands, said: “Thanks to the calibre of research output emanating from our local universities, our dynamic private sector and cross-party political will, we’re well placed to help shape the future of manufacturing not just here in the UK but right around the world.”...