Northern mayors and regional leaders have unveiled a multi-billion-pound investment pipeline aimed at accelerating economic growth and attracting global investors to the North of England.
The inaugural Great North Investment Summit, taking place in Leeds today (May 18) ahead of UKREiiF (UK’s Real Estate Investment and Infrastructure Forum), has brought together leaders from across the North under a single investment proposition designed to showcase the scale of development opportunities across the region.
Chaired by North East mayor Kim McGuinness and developed in collaboration with the Office for Investment, the prospectus highlights a £466 billion regional economy spanning 16 million people and more than £14 billion worth of major regeneration, infrastructure and industrial projects.
The initiative focuses on sectors including clean energy, advanced manufacturing, defence, AI, life sciences and creative industries, with organisers positioning the North as a globally significant destination for investment.
Mayor McGuinness said: “We launched The Great North with a simple ambition: that by working together, the North of England could become greater than the sum of its parts.
“Today we are turning that ambition into action – taking steps to unlock prosperity across the North with billions of investment and the potential to create thousands of high-skilled, well-paid jobs for our communities.
“We are presenting investors with a pipeline of opportunities that is internationally significant in scale, rooted in our proud industrial identity of making things and taking them across the world.
“Mayors we are putting our money where our mouth is, to unlock the full potential of the North which has been untapped for too long.”
Projects featured in the investment pipeline include the Green Energy Corridor in the North East, a nationally significant offshore wind and clean energy cluster, alongside the East Coast Cluster spanning Tees Valley, Hull and the Humber, which is focused on carbon capture, hydrogen and industrial decarbonisation.
Other major schemes include Leeds’ transformational regeneration programme, which aims to deliver around 20,000 homes and three million sq ft of commercial space, Liverpool’s Knowledge Quarter and city-centre regeneration plans, and York Central, one of the UK’s largest brownfield regeneration opportunities adjacent to York Station.
The prospectus also highlights Sheffield’s Don Valley Corridor, centred on advanced manufacturing and defence innovation, alongside Greater Manchester developments including Atom Valley and MIX Manchester, a major science and innovation campus located next to Manchester Airport.
Meanwhile in Cheshire, the Origin development has been identified as a key clean energy investment cluster focused on hydrogen and carbon capture infrastructure.
Tees Valley mayor Ben Houchen added: “This is about showing the world that the North is open for business and ready to deliver.
“Across Teesside, Darlington and Hartlepool we’ve already shown what can be achieved when you let business get on and invest, move quickly and focus on getting projects off the drawing board and into production.
“We’re attracting billions of pounds of private investment, creating thousands of good-quality jobs and building industries that will power the UK for decades to come.
“There’s still enormous potential to be unlocked across the North, and by working together we can bring in even more investment, create more opportunities and drive growth for local people right across our region.”
David Skaith, mayor of York and North Yorkshire, added: “York and North Yorkshire is one of best places to live, and with one of the most highly qualified and productive workforces in the country and the space to grow, we’re also one of the best places to invest and do business.
“York Central is at the heart of our offer, as one of the UK’s largest brownfield city-centre regeneration sites centred on a pivotal rail gateway to the North.
“Together across the Great North, we’re showing the world that we’re ready to lead the next chapter of growth with a clear pipeline of opportunity, so there’s never been a better time to join our team.”
Tracy Brabin, mayor of West Yorkshire, added: “West Yorkshire is open for business and that is the case I’m making to investors here at UKREiiF in Leeds.
“It’s an exciting time for the North, as mayors are making a real difference to people’s lives, by delivering better transport, better housing, more jobs and more money in people’s pockets.
“We are clear that West Yorkshire, one of the fastest growing economies in the country, is the best place to invest.”
The summit follows the Government’s decision to explore a future UK Olympic and Paralympic bid centred on the North of England, which regional leaders say could act as a catalyst for further regeneration and inward investment.
Backed by Chancellor Rachel Reeves, the summit includes contributions from Northern mayors, Treasury minister Dan Tomlinson, local government minister Alison McGovern and leading business representatives.
The collaborative approach marks a significant shift in how the North presents itself internationally, with regional leaders working collectively alongside Government to unlock long-term growth and job creation.
More than £60 billion in recent Government investment commitments have already been pledged across the North, including £45 billion earmarked for Northern Powerhouse Rail and £10.4 billion for city-region transport upgrades.
Chancellor of the Exchequer Rachel Reeves added: “The North of England has waited for far too long for a government that matches warm words with concerted ambition.
“This pipeline shows the huge opportunity across the North – from thriving cities to world-leading industries that can bring in investment and support the jobs of the future.
“Stronger growth in the North means stronger growth for the country.
“That is why we are working with mayors and local leaders to unlock investment, create jobs and put more power into the hands of local communities.”
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