A £27 million action plan is encouraging businesses to diversify into the environmental sector.
The aim of the scheme, backed by the European Regional Development Fund, European Social Fund and Advantage West Midlands, is to develop the potential for the region to be a leader in environmental technologies, products and services.
Traditional companies in the automotive, engineering and ceramics sectors are being encouraged to develop their businesses towards environmental technologies.
The overall Environmental Business Growth Action Plan will see:
The linking of supply of environmental goods and services to demand
The increasing of business efficiency through environmental management improvements
Economic development through the enhancement of key business sites.
Just over half the funding (52 per cent) will be channelled into business growth, with 37 per cent going towards improving environmental efficiency and 12 per cent for improving the environment of business parks, and encouraging businesses to work together in the field of environment services.
Marisa Gunn, of the Environment Agency, said: "The scheme is to encourage the diversification of firms in traditional sectors. Companies can branch into pump manufacturing, remote sensing measurement devices or air filtration systems.
"Environmental initiatives will become law, with particular regard to recycling electronics and promoting less landfill sites and incineration, but it's also about the market opportunities out there for providing services and solutions for recycling. In the Eastern block there is a vast need to bring industries up to standard."
The action plan actively supports the development and diversification of SMEs into the environmental technologies market sector.
Ms Gunn added: "The plan is to assist small businesses to look at their markets and marketing potential in the environmental sector."
The target is to assist up to 2,600 SMEs across the region , create an estimated 700 new jobs and safeguard a further 2,000 jobs.
The Environmental Business Growth Action Plan will run for six years. Key aims will be:
Advice and one-to-one support for SMEs in the region to explore diversification opportunities based on market demands for environmental technology design, technology transfer and manufacturing of components for environmental products and goods.
To actively help companies identify new business partners in the environmental technologies market (global and UK) and link these to SME supply chains in the West Midlands.
Targeted campaigns, events, workshops, seminars and breakfast meetings to pass on information on environmental regulations and legislation
Structured training and skills development which will lead to improved competitiveness.
Advice to businesses on adaptations to products to improve environmental performance
To provide advice and technical support to businesses wishing to improve the quality of environment surrounding factories, warehouses and industrial premises.
