With the fastest-growing economy in the UK and as a leader in attracting FDI, Greater Manchester is now ready to accelerate its growth mission.
The region has unveiled an ambitious ten-year plan to turbocharge growth and deliver tens of thousands of new jobs for its residents. Using its devolved powers to target six growth locations – nationally significant sites with massive economic potential over 10 boroughs – via a place-based approach, the region hopes to attract £10bn in investment and pioneer a new way of delivering large-scale development.
Each Growth Location will have a distinct focus, building on existing sector strengths and opportunities. Just one Growth Location scheme could unlock 48,000 new jobs, and 17,000 new homes, and add £4.2 billion to the local economy.
At the heart of this plan is an integrated single pipeline for growth which will ensure developments are complementary and have the infrastructure needed to create thriving, well-connected communities.
This approach will help us deliver projects of similar size and scale to the Old Trafford Regeneration Scheme - the biggest sports-led regeneration scheme since the London 2012 Olympics and a key part of the Western Gateway Growth Location. Comprising homes, public realm and commercial opportunities, this scheme could deliver £7.3bn to the UK economy and over 90,000 jobs.