05 July 2012
Birmingham has been awarded a £1.5 billion investment fund, meaning more local control over spending.
The fund, which will see eight cities being handed more powers, is expected to create 2,000 more apprentices, according to LEP chairman Andy Street.
Under Birmingham’s fund, £25m is due to be spent on unemployment and transport as well as a new translational medicine centre, which hopes to boost the city's goal of becoming a world centre for life sciences.
Mr Street commented: "We've got a first class life sciences business in this city and what we are trying to do is concentrate activity around that and attract private sector investors... to actually locate [here]".
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