The Black Country is to get a £24m boost to stimulate regeneration and economic growth in the area.
The new multi-million pound property investment programme has been created to deploy public sector grants to lever in private sector funding.
Grants will be made available through The Black Country business property investment programme, which is being supported with £6.7m from the European regional development fund and managed by the Department for Communities and Local Government.
The £24m funding will be made available to improve existing business premises and help develop and create new business space.
Contributions from the four local authorities in the Black Country – Walsall, Dudley, Sandwell and Wolverhampton – will be added to the pot, alongside funding from private sector businesses that have been selected to take part in the programme.
The Black Country Business Investment Programme will be launched on Wednesday at an event organised by the local LEP.
Communities minister Baroness Hanham said: “Improving existing businesses premises and developing new units that will help attract fresh investment to the area is essential to building a prosperous future.”
Walsall council will be the accountable body on behalf of the Black Country.
