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# Birmingham boosted by business boom
- URL: https://www.birminghameastside.co.uk/birmingham-boosted-by-business-boom/
- Published: 2021-04-21T10:00:50.000Z
- Updated: 2026-08-14T10:00:37.000Z
- Author: Samuel Kalantzis
- Tags: News, Business, Technology, #Migrated-1786701253228, #wp, #wp-post, #Import 2026-08-14 09:54

Large business corporation, **Goldman Sachs** banking have been given the green light by Birmingham City Council to open their next franchise building in **city centre**. 

![This image has an empty alt attribute; its file name is birmingham-1958445_1920-1024x683.jpg](https://training.birminghameastside.com/wp-content/uploads/birmingham-1958445_1920.jpg)

Photo Credit: Pixabay.com

The finance sector currently employs more than **2.3 million people** in the UK, according to [TheCityUK’s March 2021 report](https://www.thecityuk.com/news/thecityuk-budget-response-2021/?ref=birminghameastside.co.uk). With the American company finding great success in Stockholm and Warsaw, they now want to continue expansions near Europe. 

In a press conference held to announce the arrival of the new building, chief executive **Richard Gnodde** said: “**We are very excited to be expanding our footprint in the UK**.” 

The plans are set to bring more than **1,000 finance and technology jobs** to Birmingham, giving a helping hand to the current **15% unemployment rate** within the city. From January to June in 2020, over **77,000 workers** lost their jobs with the worst affected area being Ladywood, all according to the [Labour Market’s 2020 second quarter update. ](https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwiy6OTn3YzwAhVSzqQKHS7cDWkQFjAEegQIAxAD&url=https%3A%2F%2Fwww.birmingham.gov.uk%2Fdownload%2Fdownloads%2Fid%2F12673%2Flabour%5Fmarket%5Fupdate%5Fq4%5F2019.pdf&usg=AOvVaw11rhLfEV9DJjNmqC2eiq71)

**Neil Rami**, chief executive of West Midlands Growth Company, said: “**We are delighted that Goldman Sachs has chosen Birmingham as the home of its major new presence.**”

![](https://storage.ghost.io/c/63/9b/639bf577-7ed7-44fe-8d64-ac66eaeee42e/content/images/2026/08/image-4-jpeg.jpg)

Photo Credit: Pixabay.com

Large universities, such as the University of Birmingham and Birmingham City University, are producing **16,000 technology and maths graduates** annually, [according to the Higher Education Statistics agency](https://www.hesa.ac.uk/data-and-analysis/students/table-52?ref=birminghameastside.co.uk). This allows students in Birmingham to **stay and fund the city’s economy**, instead of having to relocate to London for work.

**Andy Street**, Mayor of the West Midlands said: “**This is brilliant news for the West Midlands and a significant investment by Goldman Sachs. Not only will it help create hundreds of jobs here locally, but it also shows real confidence in our region and our ability to bounce-back quickly and strongly from the pandemic.**”