As with every major city of note, Birmingham has always strived to do more, gain further inward investment and continue to grow.

If 10 years ago a poll was done among business leaders of what they wanted to see changed in Birmingham, among the top answers would have been: redevelop New Street Station, give us an airport equivalent to Manchester’s that can cope with large long haul flights, extend the Midland Metro… and give us a better rail service into London.

We now know that all of these significant investments will be delivered in 2015 – or in the case of HS2, at least started by then – thanks to the culmination of billions of pounds of infrastructure improvements.

However, while 2015 will only mark the start of construction for HS2, the economic gain will be felt beforehand.

Completion of the first Birmingham to London stage of the proposed ‘Y’ shaped rail network isn’t due for completion until 2026, however, a significant boost to our economy will happen as a result of today’s news. A £1.5 billion increase in economic output will result, not just from HS2, but also from other complementary enhancements to local and regional rail services. 22,000 additional jobs are predicted to be created locally and average wages are expected to rise.

While critics claim that Birmingham could be regarded as a suburb of London when the journey time between the two cities is only 45 minutes, this is something that is welcomed by businesses.

However, HS2 is as much about the issue of capacity, which will be greatly enhanced.

This is a very real sign that this Government understands the importance to UK plc of major cities and city regions, and sustainable connectivity to the country’s capital.

HS2 will create a significant ripple effect for Birmingham’s economy, and private sector investment decisions will now gain momentum.

HS2 will make Birmingham Airport more convenient to those travelling to and from central London than the Greater London airports of Gatwick, Luton and Stansted.

It is therefore timely that the £65 million extension of Birmingham Airport’s runway is due to commence this year and be completed by 2015.

This will enable many more direct, non-stop flights to leave from Birmingham bound for destinations such as the Far East, the West coast of the USA, India and Africa.