B&G Products was proud to be a part of a new B&G Products part of UK Trade Mission to North America that showed how important it is to invest in the Midlands. The company has worked for quite some time in order to establish new business connections with various regions of the US. The Midlands Engine is the first trade mission in the US and it also managed to be a very successful one at that.
The mission was to bring together some of the top business executives in the area and show them the power of the Midlands engine and how this can be a very powerful destination for foreign investors. Peter Ralten, Commercial Director said, “It was a visit that showed us the opportunities available and there were sessions organised by the UK Trade and Investment Department on the legal aspects of doing business in the USA as well as information on Logistics and Banking.”
It’s hoped that in 15 years this experience will be able to generate up to 34 billion pounds for the region. As a result, this might be the much-needed economic boost that the region has been seeking for quite some time.
US and Canada’s exports have increased in the past 5 years, which is why there is a very good record of building upon. It all comes down to improving the current investment rate and speeding up, adding a new boost to the entire region and B&G Products are happy to be part of it.
The plan for Midlands
The plan created here is very interesting and it does seem to bring to the front some very interesting set pieces. One of the plans is a Midlands Engine Investment Fund of £250 million pounds designed to provide investment via the Access to finances for the smaller companies. Another one of the plans includes the design of an Energy Research Accelerator which is worth £60 million pounds and this also comes with a £2.6 billion investment for the Technology Entrepreneurship centre.
Moreover, the system also includes a £300m investment for the High-Value Manufacturing Catapult and a £45m investment for an Energy Systems Catapult in Birmingham. But this is not all, as the investment also seems to include a multi-million-pound investment that was designed to make sure that the Midlands would have the best new High Speed 2 rail links. There’s also a 14-million investment towards the creation of a new innovation centre in Digbeth, Birmingham.
During the mission, B&G Products was able to interact with many other companies in the industry. This mission will be able to bring growth to the Midlands and B&G are excited to be part of the first steps with export doors opening for the business to new markets across the world.