A new report by Midlands Connect released today shows that towns and cities along the Midlands Rail Hub route, could see a boost of £14 billion every single year by closing the productivity gap with the rest of England.
Analysis has shown that productivity is up to 21% lower along Midlands Rail Hub route. Increasing transport investment in the Midlands has the potential to reduce journey times between major urban and industrial centres, bringing firms and workers closer together and making it cheaper and easier to communicate, compete and trade.
Amongst the analysis, data suggests that, if Nottingham is about to raise productivity to the UK average, the economic benefit, per year is currently 19% worse than average → £2.8bn per year, whilst for Derby, the figure is currently 9% worse than average → £0.9bn per year
The Midlands Rail Hub proposes building two ‘chords’ as well as 10+ engineering interventions throughout the region – allowing us to offer up to 20 million extra seats for passengers and up to 300 extra trains every day, through the Midlands and beyond. The West Chord consists of improvements between Bordesley and Moor Street, allowing access to Birmingham Moor Street from the South-West and Wales, and making sure services are improved on the Hereford and Worcester corridors.
The East Chord also creates an access to Birmingham Moor Street from the East Midlands.
The project will also support more than 20,000 New homes built each year. The project will also create 300+ apprenticeships and 13,000 jobs created as part of the supply chain.
Commenting on the reports release Midlands Connect’s CEO Maria Machancoses said: “The government investment to improve the Midlands and beyond connectivity through the Midlands Rail Hub is an investment in unlocking its people, its productivity and its economy. The plans and the potential are in place, now we need to make it happen.”
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