Construction has officially started on Birmingham's £150m Resort World, with a groundbreaking ceremony attended by the trade and investment minister and representatives from owner and operator Genting Casinos.

The leisure and entertainment attraction, due for completion in 2015, is projected to contribute £58m to the regional economy during the construction phase, and £32.8m annually when complete.

At 538,000sq ft (49,982sq m), over seven storeys, it will be one of the UK's largest integrated destination complexes and will include a designer outlet centre, 11-screen cinema, food and beverage, banqueting and conference centre, casino and a four star hotel and spa with up to 10 five star suites.

Resorts World Birmingham will be the first built in Europe with other destinations including Singapore, Manila, New York and Malaysia.

Minister of state for trade and investment Lord Stephen Green said: "This is a fantastic vote in the future of the British economy and British businesses. Foreign direct investment is critical to the UK economy, safeguarding and creating around 100,000 jobs a year."

The development will support 1,750 fulltime equivalent jobs during construction and 1,100 when fully operational.

Resorts World will work with Solihull Metropolitan Borough Council, Jobs Centre Plus and Solihull College to ensure local employment opportunities are maximised.