The Good Growth Strategy for the city focuses on growing our sector strengths and strategically supporting a more diverse, productive, innovative and successful business base for the long-term. We will harness future manufacturing and materials-based opportunities such as in electric vehicles, lightweighting, future propulsion and automation in all sectors including food and drink. We will build on Wolverhampton’s advanced and sustainable construction cluster, incorporating modern methods, digitisation, brownfield land remediation and regeneration. We will further develop the city’s business services and digital offer to attract more high-value activities that drive productivity. Opportunities presented by the green economy and the circular economy complement the city's net zero aspirations and align to the developing Green Innovation Corridor.
Advanced Manufacturing
16% of all the city’s Gross Value Added (GVA) is generated by businesses delivering goods or services in this sector with the automotive and aerospace industries being dominant. There are strong sub sectors in the food and drink production and metals/materials. 10% of all jobs in the advanced manufacturing sector in England are in Wolverhampton. The sector is a crucial part of our future growth but also faces challenges as we transition to new technologies and automation, manage the circular economy transition and ongoing energy crisis.
Business Services
Wolverhampton provides a very strong investment proposition for organisations in the customer services and Business, Professional and Financial Services (BPFS) sector offering high quality and cost effective property options combined with less competition for sector talent at lower hourly rates in comparison to core cities such as Birmingham.
The city’s largest sector generating £1.2 billion of GVA annually. Over 17,000 jobs concentrated in creative and digital, financial services, real estate and other sub sectors.
Building Technologies
Wolverhampton has a higher proportion of building technologies GVA compared to the Black Country and national averages (6.5% of the local total GVA compared to 5.9% in the Black Country and 5.8% across the UK). Between 2017 and 2020, Building Technologies GVA in Wolverhampton increased by 1.7%, performing much better than the UK overall (-9.4%).
The city is home to the National Brownfield Institute at the award winning Springfield campus of the University of Wolverhampton. It offers bespoke support to local, regional and national businesses for brownfield remediation, regeneration and development. It sits alongside the School of Architecture and the Built Environment that is developing the next generation of talent in this sector.
Environmental Technologies
Productivity in Wolverhampton’s environmental technologies sector stands at £98,276 GVA per employee, higher than economy-wide productivity in Wolverhampton. The city has a higher proportion of environmental technologies businesses than the UK average, and also a higher proportion of businesses compared to the Black Country overall. Wolverhampton became the first English city to sign the European Circular Cities Declaration – a major environmental agreement designed to accelerate the adoption of circular economies across the continent.
Health & Wellbeing
The largest generator of jobs in the city is the health and wellbeing sector with 22,550 jobs which is more than a fifth of all city jobs. Wolverhampton has a higher proportion of health & wellbeing businesses than both the Black Country and UK average (5.6% compared to 5.5% and 5.2% respectively). New Cross Hospital employs over 10,000 people and is run by the Royal Wolverhampton NHS Trust.
Public Sector
Wolverhampton is home to the Department for Levelling Up, Housing and Communities second headquarters, the first of its kind outside London. It is located in the heart of the city's Commercial District, in the award winning i9 building and means a regular ministerial presence outside the capital. There are further opportunities in the public sector through the government's commitment to move thousands of roles out of Westminster as well as working with regional and local public sector partners such as the NHS, emergency services and the education sector.
Retail
Traditionally important to our city’s high streets retail equate to 20% of all enterprises in our city. A vital part of vibrant thriving places too, but a sector which continues to face challenges on the back of the pandemic and the shift to online shopping. Increasing footfall levels is key to unlocking the future sustainability of a contracting retail offer in the city. Our wider plans are for city and town centre revitalisation and a thriving evening economy. The University of Wolverhampton at The Halls music and entertainment venue is bringing 300,000 visitors per year and council is investing in a new city centre food and entertainment venue.
Transport Technologies
Between 2017 and 2020 we saw the number of jobs in transport technologies increase in Wolverhampton by over 20%. A new £150 million public transport interchange in the city brings bus, rail, and metro into one consolidated commuter hub together with opportunities for commercial, retail and leisure with seamless integration into the city centre.