New funding worth £210 million has been awarded to the West Midlands aimed at boosting businesses and creating new employment.
The capital has been granted from the Government’s UK Shared Prosperity Fund and local leaders will now decide how it will be spent in the region.
The capital matches previous EU funding from the European Social Fund and European Regional Development Fund.
Money is set to be spent on local priorities which could include supporting local businesses and employment opportunities, reviving high streets and reducing anti-social behaviour.
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Minister for Levelling Up Neil O’Brien MP said: “Communities across the West Midlands now have the power to directly tackle the issues affecting their local area, through the government’s UK Shared Prosperity Fund.
“This new approach to empowering local communities is a key part of our levelling up agenda, now free from previous EU restrictions.
“It is right that communities take charge of their future through ambitious choices which will level up and unlock the region’s full potential.”
Overall funding for the UK Shared Prosperity Fund will be £2.6 billion between 2022 and 2025, with this figure reaching £1.5 billion per year by March 2025.
Previous EU programmes will continue until the end of 2024.
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