HS2 could offer a £10 billion boost to the West Midlands economy over the next decade, research suggests.
Some 40,000 new homes and 31,000 jobs could be created on the back of the London to Birmingham high-speed rail link, according to consultancy Arcadis.
This comes after the region has attracted the most inward investment outside of London and southeast England since 2017, the group said.
Planning applications in areas within a 1.5 mile radius of three HS2 hubs - Curzon Street station in Birmingham, Interchange station in Solihull and the Washwood Heath Depot - had risen by two-thirds, for instance.
The report comes after the government cancelled the latter legs of HS2 last year over fears of mounting costs.
Delays and mounting material costs had plagued the project, with the London to Birmingham leg still potentially costing up to £65 billion, according to the line's executive chair, Jon Thompson.
"While there are undoubtedly other factors at play in the emergence of new schemes, including the uplift created by the West Midlands hosting the 2022 Commonwealth Games and the support provided by Birmingham's city centre enterprise zone, it is vital that we gather evidence that definitively outlines the scale of influence HS2 is having on the West Midlands' economic renaissance,” the report said.
“This report gives definitive proof that investor appetite, regeneration activity and investment close to HS2's regional assets has surged.”