The Investment Zone Board meeting on 29 July 2026 was held with a reduced number of voting members, meaning any decisions made will be recommendations to the WMCA board. The meeting focused on updates regarding the three priority investment zones: Birmingham Knowledge Quarter, Coventry and Warwick Investment Zone, and Wolverhampton Green Innovation Corridor, as well as regional business support programmes.

Investment Zone Progress Reports

The board received updates on the progress of the three key investment zones.

Birmingham Knowledge Quarter (B-KQ)

Progress at the Birmingham Knowledge Quarter continues with the launch of Aston University's Innovation Place prospectus and Woodbourne's Birmingham BioCity. Birmingham City Council is developing a Strategic Regeneration Framework to guide the site's development and investment propositions. Transport projects, including the Super Crossing and Active Travel schemes, are progressing through the WMCA's assurance process, though facing some delays. The B-KQ also had a significant presence at the UKREiiF event, showcasing masterplanning solutions.

Coventry and Warwick Investment Zone (CWIZ)

The Coventry and Warwick Investment Zone is progressing well, with planning applications moving forward and infrastructure works, including the 30MVA power supply to Greenpower Park, on track. The cessation of airport operations has been a catalyst for infrastructure delivery. Significant investor interest has been noted, particularly from major battery manufacturers, with the CWIZ being a finalist for a Gigafactory location. Discussions are ongoing regarding skills development and ensuring local employment benefits.

Wolverhampton Green Innovation Corridor (GIC)

In Wolverhampton, the Green Innovation Corridor is nearing the completion of its capital funding agreement, which will enable remediation works on four sites. An Innovation District Masterplan is being developed, attracting market and developer interest. The council is also focusing on outreach to local businesses and developing a Green Skills Hub in partnership with the University of Wolverhampton to benefit the wider Black Country region.

Regional and Revenue Programmes

Updates were also provided on the regional business support programmes funded by the Investment Zone.

Supply Chain Transition Programme

This programme, launched in September 2025, has seen accelerated delivery, with a strong uptake from SME manufacturing businesses. The Electric Light Vehicle and Battery Manufacturing, and Aerospace clusters have generated the most interest, alongside a growing demand from SMEs looking to diversify into the Defence sector. The programme offers business advice, R&D grants, and skills training.

Midlands Mindforge

The equity investment company, Midlands Mindforge, has made four investments, with a strong pipeline of further deals expected. This initiative aims to demonstrate the demand for early-stage equity investment in the region and attract larger funders.

Skills Programme

Recognising the importance of skills, the Investment Zone is supporting various initiatives. This includes the development of modular, flexible training provision for higher-level skills, particularly in sectors like battery technology, clean energy, and medtech. A contract for a Med-Tech course is set to launch, offering incentives for trainees and employers. The programme also supports expanded Job Rotation pilots to help residents access improved opportunities and strengthen internal business capacity.

Financial and Investment Updates

The board reviewed the financial statement, noting a cumulative underspend of £5.2 million which has been approved for carry forward. Forecasts indicate a potential funding deficit in the coming years, but flexibility within the Integrated Settlement is expected to help manage these variations. The West Midlands Growth Company has been allocated £500,000 for investment and promotion activities, focusing on targeted marketing and engagement with international investors.

Board Membership

The board was recommended to approve the appointment of the University of Birmingham and the West Midlands Innovation Board as non-voting members. This move is intended to provide a broader range of expertise on the region's innovation ecosystem and enhance strategic alignment.

Due to the lack of a quorum, all decisions made at this meeting will be recommendations to the WMCA board, which will meet in September.