Assets and Liabilities Plan submitted to BIS

Advantage West Midlands has submitted an Assets & Liabilities Plan, endorsed by our Board, to the Department for Business, Innovation and Skills which contains commercially sensitive information, including asset valuations.  

AWM has produced a version of the Plan which excludes the commercially sensitive information which it is sharing with partners. A copy of this version of the Plan is enclosed.

This submission represents a comprehensive and strategic review of AWM’s assets and liabilities portfolio.

It meets three key objectives – it ensures that assets and liabilities create maximum long-term value for the West Midlands economy; it maximises receipts to Government, and it will achieve an orderly and timely closure of AWM by March 2012.

AWM has consulted throughout with local authorities, local enterprise partnerships and other local partners and now awaits sign off from Government in order to implement the plan.

In a letter to partners, AWM Chief Executive Mick Laverty said: “The Plan sets out the Agency’s view on the disposal and transfer of the assets and liabilities held to support our work to promote economic growth in the region.

“Our approach has been to set out our rationale and vision for the assets and liabilities that we have acquired, consider options against that vision, and then recommend the option which we feel can deliver that vision and provide the best return on investment.

“We see this as very much the first stage of this process.

“The second will be to work with partners and interested organisations to consider and agree the appropriate destination for these assets and liabilities.

“It will be vital to secure Government’s early support for our strategic approach to enable us to engage in that detailed dialogue with confidence and certainty.”