A NEW report focusing on the government’s Made Smarter scheme shows that Coventry and Warwickshire will continue to be the global creative engine for engineering and manufacturing.
Made Smarter is aiming to create 250 jobs in the West Midlands by the end of its pilot programme.
The report by Coventry and Warwickshire Local Enterprise Partnership (CWLEP) Growth Hub SmartRegion shows that over 207 businesses have registered for the £1.9million scheme since it was first introduced last April.
Grants awarded to 36 West Midlands businesses are expected to lead to a £27million increase in Gross Value Added (GVA) over the next three years, which is an average GVA rise of £751,000 per company.
The report collected information from organisations including Warwickshire County Council, Coventry City Council, and the Coventry and Warwickshire LEP.
Made Smarter’s digital transformation specialist for Coventry and Warwickshire Paul Sullivan said: “In the next five-to-ten years, Coventry and Warwickshire will continue to be the world’s creative engine.
“It is important that the latest technologies are developed here to give manufacturers the edge in terms of their output.
“Made Smarter allows businesses to make decisions with the support of business support professionals and technology specialists.
“Companies are using tools that allow them to operate from home, and the ability to communicate remotely has opened additional markets on an international stage that were not available pre-pandemic.
“This is the very positive outcome of adopting new communication technologies.”
CWLEP Growth Hub’s managing director Craig Humphrey added: “The quality of the support service in Coventry and Warwickshire is recognised as being the best in the country. The support offered is seen as impartial and there for the benefit of businesses.”