- Next wave of investment from GM Good Growth fund unveiled, pumping £420m into new homes, infrastructure and industry
- UK-first £1bn fund will almost double in size, including new £500m partnership with National Wealth Fund in a bold new approach to public investment, and £175m from Government
- New Good Growth Contract will make the most of every pound we invest, ensuring grant and loan recipients – including private sector partners – bring social as well as economic benefits to communities.
- Projects backed in second phase include £314m of transport investment and £85m for new housing schemes
- New link road in Bolton will help Greater Manchester get ready to host the biggest ever Ryder Cup, with golfing champion Tommy Fleetwood backing the tournament coming to the North
- Mayoral Development Corporation in Oldham set to back £70m state-of-the-art SportsTown, while film and TV sector boosted by new £10m GM Production Fund, and green energy cluster becomes Energy Campus
- President of the British Chambers of Commerce Andy Haldane has praised the Good Growth Fund as “fantastically innovative” and called for it to be replicated across the UK “to make good on the holy grail that is national growth”
Mayor Andy Burnham has unveiled the latest plans to deliver a decade of good growth in Greater Manchester, backed by at least £500 million of investment from the National Wealth Fund, as the city region launches a bid to host the biggest ever Ryder Cup in 2035.
The new National Wealth Fund backing comes on top of a £314 million transport funding boost, and £175 million from Government – meaning Greater Manchester’s UK-first Good Growth Fund is set to grow from £1 billion to almost £2 billion.
Greater Manchester is already the UK's fastest-growing city region – and now we’re pioneering a new model of economic growth which lifts all our people and places and brings good growth to every district.
Andy Haldane, the President of the British Chambers of Commerce, praised the Good Growth Fund as “a fantastically innovative way of solving a really deep-rooted longstanding problem in the UK, which is that far too little money is flowing outside of the South East.”
The former Chief Economist for the Bank of England said he hopes Greater Manchester’s approach can be replicated across the UK “to make good on the holy grail that is national growth.”