Nearly 1,000 jobs are to be created and more than £10 billion invested across the UK following the government’s first Regional Investment Summit in Birmingham.
The event, which brought together investors, business leaders and government representatives, was designed to drive economic growth, attract investment and strengthen local industries through collaboration between the public and private sectors.
Major announcements included a £200 million redevelopment of Leeds United’s Elland Road stadium, a £300m investment from Toyota’s Woven Capital to establish its European growth capital team in the UK and a £400m commitment from Hines to support the £4bn Birmingham Knowledge Quarter.
Property investor Blackstone, through its National Exhibition Centre business, will invest £200m over the next decade to modernise its live events venues, while Associated British Ports plans to spend £500m upgrading the Port of Southampton.
Technology and innovation also featured prominently, with Atos to invest £10m in new AI centres in the Midlands, creating 50 jobs and aiming to position the region as a national digital hub.
Cummins is set to invest $50m in Daventry to expand critical power infrastructure linked to AI and data centre growth, while Nest Pensions will commit £85m to expand rural broadband and energy-from-waste facilities in northern England and Scotland.
The life sciences sector received a further boost, as Biocomposites and Sterling Pharmaceuticals will invest over £30m between them.
Biocomposites will expand its Keele facility producing antibiotic-delivery medical products and Sterling will build a 60,000 sq ft site in Birmingham, creating 48 new jobs and increasing UK production of medicines for the NHS and export markets.
Public investment commitments included The Crown Estate’s acquisition of Harwell East in Oxfordshire – a £1.5bn project expected to deliver 30,000 jobs and 400 homes.
The West Midlands Combined Authority also announced a £75m skills package to train 12,000 people in construction and technical roles, alongside a £40m fund for new social housing.
The event also saw the launch of the Sterling 20 – a coalition of 20 major pension funds and insurers set to direct billions into high-growth areas such as AI, fintech and infrastructure, supporting the government’s modern industrial strategy.
“Today’s first ever Regional Investment Summit is delivering what we promised in our Plan for Change—with nearly a thousand jobs and over 10 billion in investment that will flow directly into communities across Britain,” said Chancellor of the Exchequer, Rachel Reeves.
“These announcements prove that when we back our regions and cut red tape, investors respond.
“That is how we will build an economy that works for working people, in every corner of the country.”
Business and Trade Secretary, Peter Kyle, added: “Regional investment matters because economic growth matters: for the wealth and jobs it creates, for the public services it fuels, for the future prosperity it generates, for our nations, regions and communities.
“The jobs and investments announced at today’s Summit are a clear demonstration of this government’s commitment to delivering on its Plan for Change and growing the economy – by making the UK the most attractive place in Europe to start, scale, and succeed in business.”