Wolverhampton was historically one of the UK’s main heavy industrial areas. However, in recent years, efforts have been made to reposition the city around a more diverse economy. In this report we will look at current regeneration and development activity in the city centre as well as at the wider property market.

Being at the heart of the so-called Black Country, Wolverhampton’s economy was grounded in heavy industry including foundries and metalworking. The city has retained a significant manufacturing sector, although there is now an emphasis on advanced manufacturing. It is also regarded as the centre of the UK aerospace industry. To the north of the city i54 is a now well-established business park with a technology focus. Currently 2.5m sq.ft. of space has been developed and around 2,700 people work here.

Other key industries, according to Invest Wolverhampton, include business services, building technologies, environmental technologies, transport technologies, health and wellbeing, retail and the public sector.

The Wolverhampton Green Innovation Corridor (GIC) is a collaboration between the local authority and the University of Wolverhampton. The aim is to support new green industries and green skills. It has been allocated £20m from the Levelling Up Fund. It will be located at the university’s Springfield Campus and at its Science Park.

Regeneration in the city centre has been in progress for some time. The City Centre Area Action Plan (AAP) dates back to 2016. It has tended to focus on consolidating the retail core and encouraging new uses including office, educational, cultural/leisure and residential to the city centre and the ex-industrial areas around it. A new City Investment Plan was adopted by the local authority at the end of 2024. It aims to help existing businesses grow, attract new businesses and investment, and safeguard and create jobs.