Fastest-growing region banging the drum for further investment

The West of England's efforts to bang the drum for investment will step up next month at a major investment conference: the UK's Real Estate Investment & Infrastructure Forum (UKREiiF) in Leeds.

Led by Mayor Helen Godwin, a West Country delegation including dozens of business leaders will showcase our part of the world and make the case for further investment to unlock new homes, new jobs, and long-term prosperity – aligned with the ambitious target for 72,000 new jobs over the coming decade, set out in the regional Growth Strategy.

The West of England is the country's fastest-growing regional economy and is already the most productive area outside of the capital. Since 2019, the West's economy has grown four times faster than the national average and is now worth more than £54 billion. In the last decade, more than 100,000 new jobs have been created across the region – with the highest job growth in its key growth sectors of any combined authority area, including London: creative industries, digital and tech, clean energy, and the everyday economy.

In partnership with headline sponsor YTL UK Group, whose multi-billion-pound investment is breathing new life into the former Filton Airfield as Brabazon emerges as part of the West’s new town, the West of England Mayoral Combined Authority will next month set out a united front for the region and a clear offer to investors at UKREiiF. This comes while country’s fastest-growing regional economy is delivering major developments in partnership, with an ambitious pipeline for the future, including Brabazon and Bristol Temple Quarter.

The West's delegation will build on recent progress which puts the region on the cusp of securing new town status for Brabazon and the West Innovation Arc – a growth zone with the potential to deliver up to 40,000 new homes over the coming decades. The new Bristol Brabazon railway station, opening this autumn, will significantly strengthen regional connectivity, ahead of the opening of the new 20,000 capacity Aviva Arena at YTL Live in 2028.

With nearly £1 billion invested in Brabazon, YTL UK Group has secured planning permission for 6,500 new homes, three new schools and a major park at Brabazon, where more than 500 residents have already moved in. To date, YTL UK Group has already invested more than £16 million in transport infrastructure through local authority contributions and direct on-site delivery, with a further £40 million planned over the next decade to help ensure that Brabazon is one of the best-connected and most investible new towns in the country.

Renewed public investment is also unlocking growth. In March, the Mayor secured £45 million through the region's first ever allocation from the national Brownfield Housing Fund to support the delivery of new homes, including new affordable homes. Recent months have also seen a new Transport Vision for the region announced by the Mayor and council leaders to reduce congestion, support productivity, and cut pollution. Last year alone, just in Bath and Bristol, congestion cost our economy over £150 million.

Government, transport, and business leaders have welcomed the West's ambitions, including potential mass transit options alongside better buses, more trains, active travel, and improved streets. The Mayor set out the importance of securing both public and private investment in transport infrastructure improvements to help unlock continued economic growth in the country's fastest-growing regional economy.

Helen Godwin, Mayor of the West of England, said:

The West of England is proud to be the country’s fastest-growing regional economy. Armed with that message, together we’ll be making the case to national and international investors for our part of the world and all it offers, as we continue working to create more jobs, build more homes, and get the West moving through better transport.