West Midlands, an official region in England, covers the west half of the area which is traditionally known as Midlands. Birmingham, the second most populated British city, is located in this region. Now, West Midlands is entirely an urban conjuration. This region is based on a very strong interconnection between traditional and economic activities.
West Midlands is home to major manufacturing innovations, brands and a wide regional supplier infrastructure. Manufacturing being an important aspect for future prosperity of West Midlands is renowned for manufacturing, inventing and developing many varied products. Companies which are producing higher value added products and are moving up the value chain have become successful. Stronger demand and supply of higher level skills are making it possible for businesses to change, compete and innovate in all markets. Also, Information and Communication technology is the main diver for economic growth in West Midlands.
Since long West Midlands is been attracting inward investment. Out of the 40% of foreign investments which Europe attracts, West Midlands secures 20% of them. Traditionally much of the foreign investment activities in West Midlands is headed by activities such as rubber and plastics, added value engineering, automotive and manufacturing. The region has found success in attracting information technology, business service companies and software companies. Outside London, West Midlands had firmest regional financial services sector.
Accompanied by excellent communications and travel options, West Midlands is a perfect location for shared service sector. For more than a decade West Midlands has been well established as a center for shared service centers (SSCs). It has been predicted that the professional, financial and business sector in this region will grow immensely. This sector is mainly focused on Birmingham which is a home to city's largest professional and financial services sector outside London. This city offers various benefits for companies which are seeking to set up SSCs by its central location and a comprehensive rail, road and transportation network. This area also offers low operating cost and provides a very good value for money for the companies which are seeking to set up SSCs here.
Many multinational and high profile companies have realizes the advantages of setting up SSCs in West Midlands region, which includes Pricewaterhouse Coopers, Britannia Building Society and Davis Langdon. High quality professionally skilled people are available in this region for internal and client support services required by the MNCS. Centers of accounting, banking and international business are impressing a new generation of talent, skills and business entrepreneurs. This region has full availability of well educated, multi-lingual and skilled labor work force. Also the financial and professional sectors are characterized by youthful work force which in-turn encourages graduates form the regional universities to stay and work in West Midlands.
This region has enjoyed relative economic stability. Sound macro-economic policies and Labor market flexibility in West Midland have contributed to make the country one of the top 10 places in the whole world. Thus, this region is evidently a perfect place for investors to invest their money.