Rarely these days is it possible to report much in the way of good news for the West Midlands’s beleaguered manufacturing sector.

But the decision by Jaguar Land Rover to build an 800,000 sq ft engine plant at Wolverhampton certainly fits into the category of a red letter day for the regional economy.

The firm’s decision, a terrific boost for the i54 business park at Pendeford, is all the more welcome given that rival bidders in South Wales could have expected to be aided by grants from the Welsh Assembly.

JLR’s continuing commitment to building quality vehicles in Birmingham and the West Midlands represents an astonishing turn around for a company which even 18 months ago appeared to be struggling to stay afloat. It is also the perfect answer to sceptics who doubted whether the Tata Motors Group would deliver on its pledge to invest heavily in one of the world’s greatest marques.

JLR’s £1.1 billion profit bonanza last year was achieved largely off the back of soaring sales in China and other emerging economies, a market place that is only likely to become even stronger over the next few years.

It is also worth noting that the weakness of Sterling, often seen as a bad thing, is working in our favour by making foreign exports cheaper.