Impact investor BBRC, in conjunction with the Western Gateway partnership, is looking to unlock more private sector investment in the South West and Wales. The aim is to support sustainable economic growth that benefits local communities. This announcement was made at a launch event held at the House of Commons on Tuesday, 12th December. The event was hosted by Bristol North West MP and Shadow Chief Secretary to the Treasury, Darren Jones, and supported by Secretary of State for Wales, David Davies MP.

During the event, BBRC launched a new net zero fund, showcasing how its place-based impact investment model can deliver significant results for levelling up. To date, BBRC has already brought in over £60m of local investment. Their model outlines plans to provide key worker housing and meet net-zero targets in a way that unites local communities and investors.

In tandem, the Western Gateway Partnership introduced new research conducted with EY to identify areas where more could be done to attract private sector investment to support businesses and innovation. The outcomes of this research will be used to make recommendations to the government by summer 2024 on how to drive higher levels of investment into the region to stimulate new economic growth.

Shadow Chief Secretary to the Treasury, Darren Jones MP, emphasised the importance of unlocking private capital investment to get Britain building again and reboot the economy. He expressed his delight at hosting investors and businesses from the region to explore the best ways to achieve this goal.

BBRC's CEO, Ed Rowberry, highlighted the importance of locally-led practical action and catalytic investment to achieve impactful social and environmental outcomes. He noted that BBRC's model transforms the way finance delivers impact and ensures this impact aligns with local needs.

"We can raise capital from investors by offering attractive risk-adjusted returns and impact outcomes, to invest in real estate, infrastructure, and businesses in the South West," said Rowberry. "For example, Bristol City Council’s £4m commitment into our impact investment fund, City Funds, has unlocked £34m total investment in SMEs in the region. By working alongside Western Gateway and others, we hope to scale our model to unlock further investment in the region and tackle key issues such as housing and the climate crisis.”

John Wilkinson, director of the Western Gateway, pointed out that despite being home to highly skilled and creative communities with world-leading manufacturing, universities, and high-tech clusters across engineering, cyber, and low-carbon energy, the area struggles to attract inward investment.

"Nearly half of the UK’s total investment goes to London, whilst just 2.9% goes to Wales and 5% to the South West," said Wilkinson. "We believe we have the potential to become a significant channel for UK inward investment to support economic growth. That’s why the Western Gateway, in partnership with EY, is launching new research to understand where these investment gaps are and which are the most pressing. We want to bridge these gaps and deliver concrete proposals which can help the area achieve its full potential. We’re delighted to be including BBRC as one of our case studies, whose operational model has already shown such positive results for the West of England.”

This partnership between BBRC and the Western Gateway signifies a promising step towards sustainable economic growth for communities in the South West and Wales. The initiative aims to leverage more private sector investment, address critical issues like housing and climate crisis, and ultimately help the region reach its full potential.

Summary:

BBRC, an impact investor, in collaboration with the Western Gateway partnership, aims to attract more private sector investment in the South West and Wales for sustainable economic growth benefiting local communities. The partnership launched a new net-zero fund and presented research identifying areas that need more investment. This research, conducted with EY, will inform recommendations to the government in 2024 to stimulate economic growth in the region. Bristol North West MP, Darren Jones, and BBRC's CEO, Ed Rowberry, underscored the significance of private capital investment and creating an impact that aligns with local requirements. Western Gateway director, John Wilkinson, highlighted the need to bridge investment gaps in the region, despite it being home to highly skilled communities and leading institutions. The initiative aims to tackle key issues like housing and climate crisis and help the region realise its full potential.