Objective 2

Objective 2 is funded from the European Regional Development Fund (ERDF) and the European Social Fund (ESF). Funding is available for nearly half of the West Midlands population. It aims to support the economic and social regeneration of areas within the West Midlands to enable the restructuring of the region’s economy.

Objective 2 offers a real opportunity for the West Midlands to achieve a positive step change in its economic performance through improvements in infrastructure, businesses and industry while also encouraging social regeneration and supporting environmental sustainability.

Under the current programme which runs from 2000 to 2006 the West Midlands has been awarded £575 million and this must be implemented by 2008. £2 billion worth of investment will be triggered by this programme resulting in an additional £1.9 billion net value added to the West Midlands economy. It is anticipated that this programme will result in the creation of some 28,000 new jobs and will safeguard a further 16,000. It is also anticipated that 1,800 new businesses will be created.


The strategic Priorities for Objective 2 are:

• Developing a diverse and dynamic business base
• Creating the conditions for growth
• Regenerating communities
• Creating a learning and skilful region

For more details on the priorities please visit the Government Office for the West Midlands website, by clicking here.