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Economic Development
CSWP ensures that its partners are all working together, and pulling in the same direction in support of the core objectives:
- To represent and promote the economic interests, development and regeneration across the Coventry, Solihull and Warwickshire sub region. Enabling private, public, education and voluntary agencies to work together for the growth and prosperity of Coventry, Solihull and Warwickshire and the one million people who live here.
- To provide a platform for joint cross-partner policy decisions.
- To deliver a range of funded projects which fulfil CSWP objectives
- To speak out loudly and clearly for the sub-region
The two main vehicles for delivering the vision are the Regeneration Zone and the High Technology Corridor.
The Zone, broadly covering Nuneaton, Bedworth and North and East Coventry, aims to redress the economic imbalance that exists in terms of prosperity between the Regeneration Zone and the remainder of the sub-region.
The CSW Corridor is one of three High Technology Corridors in the West Midlands, established to accelerate the modernisation and diversification of the region’s economy, stimulate new enterprise and attract new investment. The Corridor has great potential for innovation, capitalising on the presence of the University of Warwick, Warwick Science Park, Coventry University, a host of other research organisations, skills and technical expertise and a rich history of world-class industry. This is also an area of strong, established high-technology transport and ICT businesses supported by significant intellectual resources.
The primary aim of the Corridor is to contribute to diversifying the business base: fostering and supporting enterprise and innovation and helping to create the best environment for businesses to start-up and grow.
The CSW Corridor also looks to encourage more technology-based and high value-added businesses by developing the region’s science parks and R&D centres, improving collaboration between the West Midlands universities and supporting business investment and growth within the corridor area.
Over £30 million is being invested to develop the CSW Technology Corridor, with £5.8 million of the resource coming from Advantage West Midlands and the rest coming from the EU, partner organisations and the private sector. The longer-term vision is that the CSW area develops a globally significant and self-sustaining cluster of innovative, knowledge-based businesses. The Corridor should embrace both inward investors and indigenous spin-outs. The technological focus will be diverse but there will be particular specialisms across the areas of ICT, motor sport, product engineering and design and medical technologies.
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