£11bn east Birmingham regeneration scheme promises 50,000 jobs and 20,000 new homes
West Midlands Mayor Richard Parker has launched what he claims is the largest and most powerful Mayoral Development Corporation in Britain.
The move is designed to accelerate the £11bn regeneration of east Birmingham, one of the country’s most deprived areas.
The Birmingham East Mayoral Development Corporation (BEMDC) was unveiled at the UKREiiF real estate show in Leeds following government approval.
It is expected to generate a multi-billion-pound boost for the local and regional economy.
The corporation will cover an area equivalent to more than 600 football pitches, bringing with it more than 50,000 jobs and 20,000 new homes to communities where child poverty exceeds 50% in some areas and around 27% of adults have never worked, more than double the national average.
By combining powers including land acquisition, planning, business tax incentives and infrastructure funding into a single body, the BEMDC aims to cut through red tape and build investor confidence.
Parker said: “This is a once in a lifetime opportunity to end the deep-rooted deprivation that has blighted lives for too long in east Birmingham.
“This MDC is big, bold and ambitious, reflecting Birmingham’s position as the UK’s second city, and it will be a magnet for investment.”
Major projects at the heart of the plans
The BEMDC will encompass some of the biggest regeneration schemes in the UK and Europe, including the £4bn Birmingham Knowledge Quarter, the £2bn Smithfield development adjacent to the Bullring, HS2’s Curzon Street Station, a creative industries hub in Digbeth, and the £3bn Birmingham Sports Quarter, which includes a proposed 60,000-seat Powerhouse Stadium served by a new Metro tram route.
Joanne Roney CBE, managing director of Birmingham City Council, said: “Having the largest MDC in the country underlines the scale and ambition of our plans. There has never been a better time to invest in Birmingham.”
It is the most significant development corporation launched in the UK since the London Legacy Development Corporation was established following the 2012 Olympic Games.
