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WMG support boosts West Midlands economy by £450 million

Posted on 11 Apr 2024 and read 458 times
WMG support boosts West Midlands economy by £450 millionWMG at the University of Warwick says it has boosted the West Midlands economy by £450 million – with every £1 invested into WMG’s small and medium-size enterprise (SME) programmes, around £22 has returned to the local economy. Celebrating 20 years of tailored business support, WMG has delivered manufacturing expertise to 15,000 SMEs in the Midlands. It has supported the creation of more than 13,000 jobs, 350 new businesses and 355 internships over the last two decades. The WMG has delivered critical projects to SMEs to help them succeed in digitalisation, business change and product design. A key ongoing project is helping SMEs mange the energy crisis with a specialised toolkit and tailormade roadmaps to help organisations reach ‘net zero’. As a High Value Manufacturing Catapult (a Government initiative driving manufacturing innovation), WMG is also playing a pivotal role in the revival and development of the West Midlands and the wider UK manufacturing base.

Dr Mark Swift, director of SME Engagement at WMG, University of Warwick, said: “Our work over the last 20 years has shown that targeted, high-value support can help SME manufacturers accelerate growth, improve productivity, and create jobs. It is vital that we continue to be a guiding force to help businesses implement new technologies, develop their teams, and continue to innovative and prosper. We have an important legacy to protect and continue and I am delighted to lead a team of industry experts working tirelessly to do just this.”

Adrian Williams, Pashley Cycles managing director, said: “Working with WMG over the years has given Pashley the opportunity to take advantage of skills, expertise and facilities which we would never otherwise have access to. This is really helping us create robust and reliable, yet lightweight products which we are confident will give us a competitive advantage in the market.”

Peter Davies, co-chair of the Manufacturing Assembly Network and CEO of James Lister & Sons, said: "WMG has been an outstanding source of advice, guidance, support and access to funding opportunities for all members of the Manufacturing Assembly Network (MAN). The specialist assistance has helped us unlock innovations, bring new services to market, achieve efficiency gains and, in more recent years, accelerate our move towards sustainable manufacturing and taking advantage of the green economy. WMG 'gets' manufacturing and what we need and is happy to work with us to achieve an outcome that works for all parties.”

Founded by the late Professor Lord Kumar Bhattacharyya 40 years ago, WMG first began offering tailored support to SMEs in the Midlands region back in 2004.