Business and political leaders from across the West Country are set to showcase the region's investment opportunities at a major UK summit this week. The West of England, the fastest-growing regional economy in the country, will highlight its five growth zones and economic potential—valued at approximately £17 billion—at the UK's Real Estate Investment & Infrastructure Forum (UKREiiF) in Leeds.
Growth Strategy and Economic Performance
The growth zones were first announced last year as part of the West of England Combined Authority's (Weca) Growth Strategy, which outlines ambitious plans to create 72,000 new jobs, build thousands of homes, and achieve 28% growth over the next decade. According to Weca, since 2019 the region's economy has grown four times faster than the national average. In 2023, the West grew by almost 3%, outperforming every other combined authority area and London.
Mayor's Vision for Transport and Investment
Helen Godwin, Mayor of the West of England, emphasized the need for further investment, particularly in transport. She stated: "The West of England is the fastest-growing region economically, but we can do even better—especially on transport. That's why it's important that, as well as championing the exciting investment opportunities offered for building new homes to tackle the housing crisis, we also go to national and international investors to highlight what transport improvements can deliver. With the right backing, we can cut congestion, speed up travel, and increase people's quality of life. We have already secured record investment from national government in transport—more than three-quarters of a billion pounds—and know what a difference further private and public investment in our area can make to unlock more new jobs and more economic growth."
Delegation and Investment Opportunities
The West of England's delegation at UKREiiF, in partnership with YTL UK Group, includes Ameresco, Vattenfall Heat UK, NCC, Savills, Universities West, Bristol Temple Quarter, Bristol Airport, Bromford Flagship LiveWest, Axis Works, Stoford, AtkinsRealis, Arcadis, Arup, AECOM, BBRC, Bristol Property Agents Association, and the region's four local councils. Weca will showcase a range of investment opportunities, including Bristol Temple Quarter and Brabazon and the West Innovation Arc; mass transit plans backed by government funding; and a £500 million Future Places Fund to enable early acquisition of land for development across the region.
Council Leaders' Statement
The four regional council leaders issued a joint statement: "We have already together developed a new Growth Strategy for the next 10 years, and are proudly making the case for the investment which our region deserves. Everywhere here in the country's fastest-growing regional economy has exciting potential for the future, in particular our growth zones: Central Bristol & Bath, and the North Somerset Growth Gateway, Severn Estuary, Somer Valley, and West Innovation Arc. Now is the time to continue banging the drum for the investment to unlock the West of England's full potential."
Private Sector Support
Colin Skellett, CEO of YTL UK Group, commented: "The West of England is one of the UK's most compelling growth stories. We are proud to support the West of England Combined Authority's vision that brings together public ambition and private capital to unlock the region's full potential, deliver new homes and sustainable economic growth at scale to ensure the region's long-term prosperity."
