Birmingham City Council has announced a £600m development plan it hopes will transform its existing business district into its “Canary Wharf” style economic powerhouse, capable of attracting international business and finance operations.

The Snow Hill Masterplan will take 20 years to complete and aims to establish around 10,000 new jobs in the area, over 200,000 square metres of new office space whilst boosting the economy of the West Midlands by around £600m every year!

Sir Albert Bore, Leader of Birmingham City Council, said: “Birmingham is putting in place the building blocks for a global business and financial centre. The city is already investing heavily to ensure that firms have everything they need to thrive here.

“The Snow Hill Masterplan provides a bold and exciting proposal for how Birmingham can continue to grow its thriving business and professional services sector.

“With time, we want the city to replicate the success of Canary Wharf, with areas like the Snow Hill district forming the cornerstone of this vision.”

The Canary Wharf of the West Midlands will transform the huge Snow Hill station’s car park to new office buildings connected through a large central concourse and new walking routes through the station.

The development plan also includes the transformation of the A38, creating a new “urban boulevard” connecting this business district with the Jewellery and Gun Quarters as well as the creation of a new urban neighbourhood in the Steelhouse Lane area.

Existing investments will continue to be supported, including the £30m restoration of the historic Grand Hotel, the arrival of HS2’s new construction headquarters at Two Snow Hill as well as the extension of the £127m Midland Metro network. These developments could make Birmingham the UK's biggest construction zones outside Greater London.