The Midlands Engine is home to nearly 405k enterprises employing 4.6m people and generating £252.6bn in GVA.
UK GVA Midlands Engine Gross Value Added (GVA) is the highest of all regions in the UK outside of London and the South East. It accounts for 12.4% of UK GVA.
GVA per head was £24,346 in 2021, £6,097 lower than UK (£30,443). A 7.7% increase from previous year compared to 7.3% increase for the UK.
The region faces a £86.3bn productivity gap with barriers including skills, infrastructure, R&D investment, and access to finance.
