HS2 will deliver greater economic benefits to the West Midlands than other UK regions, including London, research revealed today (Sept 11).
Geoff Inskip, chief executive of regional transport authority Centro, welcomed the research from KPMG saying the West Midlands was set to take advantage of its place at the heart of the high speed network.
The research, commissioned by HS2 Ltd, revealed the West Midlands regional economy would benefit from an annual boost of £1.5bn to £3.1bn, compared to growth of £2.5bn to £2.8bn in Greater London, £600m to £1.3bn in Greater Manchester and £1bn in Leeds.
Mr Inskip said: “This is tremendous news for the West Midlands and highlights the benefits high speed rail and the additional capacity this will bring to our region.
“We’ll be better connected than ever before – benefitting from fast, direct links with major UK and European cities and boosted by capacity released on our existing lines to run more freight and local services.”
Centro recently unveiled its own research which concluded HS2 will deliver more than 50,000 jobs to the West Midlands as benefits are increased by improvements to the regional network.
Mr Inskip said figures showed that the benefits of connecting Birmingham with London were more than doubled when the West Midlands was also linked with the East Midlands, North West and Yorkshire via high speed rail.
Centro is working with local authorities across the region as part of the Local Connectivity Group looking at links between Metro, existing rail, bus and cycle routes with high speed rail.