Insider Media Limited

A £17m inward investment campaign is to be launched across the West Midlands. Led by Marketing Birmingham, the bid received an £8.8m boost from the European Regional Development Fund (ERDF).

It is estimated that 500 new jobs will be created through the three-year inward investment plan, with the potential to generate an additional 4,500 jobs indirectly.

The Investing in the City Region project aims to attract 50 new businesses to Birmingham, Solihull and the Black Country and help 500 local businesses improve their performance.

The project has been awarded more than £8.8m in ERDF funding which is managed by the Department for Communities and Local Government. Marketing Birmingham and partner organizations have provided the match funding to create a total budget of more than £17m for the campaign's activities.

Neil Rami, chief executive of Marketing Birmingham, said: "Birmingham, the Black Country and Solihull have growing reputations as places to do business, invest and visit. By working with partners to coordinate promotional and business support activity we can build on this success and really focus on activities that will attract new companies, talented workers and visitors to the region.

"In today's fiscally challenging times it is important for destinations to realise the potential of their visitor economy and offer to the business and investor community in order to stimulate economic growth and create jobs for local people. This funding will help us do that."