A report before the councils Economic Development, Managed Growth & Skills Scrutiny Board next week provides an update of the borough’s economic strategy delivery plan.
Since the adoption of the Economic Strategy in 2023, significant progress has been made in key areas across each of the four Themes. Overall, it is considered that the key activities of the Delivery Plan are on track.
The report highlights that whilst national data sets are yet to be released following the publication of the Economic Strategy, it is recognised that the UK is in the midst of a low growth economic environment with factors such as rising costs and potential tariffs creating headwinds. Conversely, the productivity of the Borough is comparatively strong, with Solihull recording the highest GVA per head in the West Midlands and 34% above the national average.
Solihull is characterised by high levels of economic output and has one of the highest concentrations of jobs in the country. This includes employment specialities in the service sector and especially in knowledge intensive industries, the current and future driver of labour demand. Alongside exceptionally high job density, Solihull saw an uptick in business start-ups in 2023 allied to above average medium-term business survival rates.
The full report to the scrutiny board can be read here (agenda item 6): https://democracy.solihull.gov.uk/ieListDocuments.aspx?CId=528&MId=10584
In terms of investment, significant progress and success has been achieved at the Borough’s key development sites:
- The Arden Cross site is the largest economic development opportunity site in Solihull. At 140ha, it is of regional and national significance.
- UK2, Damson Parkway – At the other designated ‘Growth Zone’ site in the borough,
- Mell Square
- Blythe Valley Park,
- Birmingham Business Park,
- Birmingham Airport.
Ken Hawkins 