A total of £2bn is to be invested into sustainable warehouse facilities across the West Midlands.
Up to 14,000 jobs may be created through the development of the 13.5 million sq ft (1.25 million sq m) of climate net-zero warehouse space.
Set up in partnership between warehouse developer SEGRO and West Midlands Combined Authority (WMCA), it is hoped the project will be delivered by 2033.
The West Midlands’ mayor said it was a “welcome vote of confidence”.
Andy Street added: “It is exactly this kind of private sector investment – combined with the public sector creating the right conditions – that will ultimately drive our prosperity in the months and years ahead.”
The 10-year programme has also been set up to offer training opportunities for up to 5,000 young people and create 1,000 construction apprenticeships.
The investment includes the development of a 450-acre site in Coventry that already has planning permission.
SEGRO chief executive David Sleath said the project would address the long-term shortage of modern, sustainable industrial employment space in the region.
“By working closely with the West Midlands Combined Authority we can identify and unlock brownfield sites for development and deliver critical infrastructure that serves the whole of the UK,” Mr Sleath said.
The development is designed to take advantage of existing key haulage routes alongside the M5, M6 and M1 motorways.
Up to 2,700 electric vehicle charging points will also be developed, helping the region meet its ambition to be climate net-zero by 2041.
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