Region could create 52,000 tech jobs

THE West Midlands could be set to create 52,000 tech jobs and see the sector grow by £2.7 billion, according to new government figures.

A report suggests the region could see a bumper uplift by 2025 as it becomes the UK’s fastest growing region for tech.

The Department of Digital, Culture, Media and Sport (DCMS) has published the findings, which say the projected increase in jobs would represent an increase of 55 per cent since 2019.

Tech grew in the region by an average of 7.6 per cent a year between 2014 and 2019, the fastest region in the UK, according to the DCMSm which added that, going forward, the sector was expected to generate at least £2.7 billion for the local economy by 2025.

It comes as figures from the UK’s Digital Economy Council and Tech Nation show tech companies in the West Midlands are on track to raise more venture capital investment in 2021 than they did a year earlier.

They have raised £454 million in venture capital funding already this year, compared to £358 million last year, while tech vacancies have increased from 5,099 in December 2020 to 9,287 in October 2021, the study says. The growth figures, published as part of the DCMS’ Assessing the UK’s regional digital ecosystems report, highlight the region’s flourishing digital sector as Birmingham’s annual celebration of digital, technology and innovation kicks off.

The DCMS report looks at regional growth in the digital economy and will be used to support the Government’s work on levelling up so it can work with the sector to capitalise on untapped areas of potential and create more wealth and jobs.