A formal submission to create new so-called enterprise zones in the West Midlands has been handed to the Government.
If accepted, the zones have the potential to boost the regional economy by more than £4.7 billion a year, create more than 65,000 new jobs, 18,600 homes and more than 333 million sq ft of commercial space, according to business leaders.
The investment zones were announced by then Chancellor Kwasi Kwarteng in his Mini Budget last month and would offer tax breaks and other incentives aimed at encouraging investment in new shopping centres, restaurants, apartments and offices as well as liberalised planning rules to release more land for housing and commercial development.
