Woodbourne Group acknowledged in Autumn Statement 2023
Woodbourne Group Chief Executive Tani Dulay has welcomed the Chancellor’s Autumn Statement 2023, which confirmed Birmingham Knowledge Quarter as a newly designated Investment Zone and formally recognised Woodbourne Group’s anchor investment within it. This recognition marks a pivotal step for the region, consolidating years of planning, collaboration and strategic development across the public and private sectors. As outlined in the Autumn Statement 2023, the West Midlands is set to benefit from up to £160 million in funding over the next decade, accompanied by a package of tax incentives, business rate retention and regulatory flexibilities designed to accelerate growth in life sciences, green technologies, and advanced manufacturing.
The announcement strengthens Birmingham’s position as a globally competitive innovation hub, placing the city at the forefront of the UK’s long-term industrial and economic strategy. It also reinforces the role of Curzon Wharf and the Birmingham BioHub Masterplan—both major projects led by Woodbourne Group—as central catalysts for the region’s future transformation. These developments align with broader efforts to create one of the most dynamic and interconnected knowledge clusters in the country.
The designation of Birmingham Knowledge Quarter as an Investment Zone is expected to have a profound economic impact. The initiative is anticipated to create around 30,000 jobs and attract up to £2 billion in new investment, supporting a wide range of high-value sectors. This focus reflects the government’s ambition to stimulate innovation-led growth where the UK already has world-class strengths, particularly in research-intensive industries and emerging technologies.
Autumn Statement 2023 Announcement
In response to the announcement, Tani Dulay, alongside other regional business leaders, expressed strong support and optimism. He emphasised that the Investment Zone status reflects growing confidence in Birmingham’s ability to compete internationally and deliver industry-leading developments. He remarked, “Woodbourne Group’s anchor investment in Birmingham’s Knowledge Quarter, acknowledged by Chancellor Jeremy Hunt in today’s Autumn Statement 2023, serves as a catalyst for neighbouring masterplans. The designation of this area as an Investment Zone reflects confidence in Birmingham and our ability to compete on the global stage. We’re looking forward to ensuring we make this one of the greatest knowledge clusters in the world.”
The Autumn Statement also brought wider structural benefits for the region through the commitment to the Single Settlement, which will grant the West Midlands greater autonomy and control over local funding and spending decisions. This shift is expected to improve efficiency, strengthen regional investment planning and provide more flexibility for long-term economic strategies.
Responding to the Chancellor’s announcements, West Midlands Mayor and Chair of the West Midlands Combined Authority, Andy Street, welcomed the scale and ambition of the measures. He described them as “serious and substantial,” highlighting the transformative potential they hold for the region. Street noted: ‘It’s great news that we now have confirmation that our region will play host to an Investment Zone – incorporating sites from Wolverhampton to Birmingham to Coventry. This will turbo-charge the prospects of some of our key areas of strength including tech, advanced manufacturing, and green industries. Working alongside the outstanding research capabilities of our world-leading universities, this Investment Zone will enhance our ability to attract global companies to our region.’
At the heart of this opportunity lies Curzon Wharf, Woodbourne Group’s landmark development and one of the most ambitious regeneration projects in the UK. Highlighted in the Autumn Statement 2023 and granted planning permission in April, Curzon Wharf is a central component of the Birmingham Knowledge Quarter ecosystem. Together with the Birmingham BioHub Masterplan, it represents a significant step toward creating a dedicated environment for life sciences, research, and innovation within the city.
The Birmingham Knowledge Quarter (B-KQ) itself is an affiliation of knowledge-driven organisations united by a shared mission: to collaborate in shaping a world-class innovation district. Members include HS2, Birmingham City University, and Aston University, among others. The partnership brings together academic, commercial and infrastructure-led expertise with the aim of driving forward a cohesive vision for the region. By harnessing collective intelligence and shared physical assets, B-KQ seeks to strengthen Birmingham’s knowledge economy and ensure it becomes a leading destination for talent, research and investment.
Together, these developments signal a new chapter for Birmingham—one defined by innovation, opportunity and long-term economic resilience.
