With the fastest productivity growth of any UK region and a £466bn economy, the North of England is today uniting to showcase global investment opportunities.
Today’s inaugural Great North Investment Summit brings forward a major pipeline of investable opportunities from across the region.
The Great North partnership, chaired by North East Mayor Kim McGuinness, has brought mayors and leaders from across the North together for the first time around a single proposition for investors, developed in collaboration with the Office for Investment (OFI).
The prospectus showcases a region of 16 million people, a number of transformative projects worth more than £14bn, and a region with globally significant strengths across clean energy, advanced manufacturing, defence, AI, life sciences and creative industries.
It follows a Government decision this weekend to explore a future UK Olympic and Paralympic bid centred on the North of England – providing a catalyst for major regeneration and investment in the Great North.
Backed by the Chancellor Rachel Reeves, the prospectus is launched at The Great North Investment Summit, taking place in Leeds today (Monday 18 May). The Summit, delivered in partnership with NatWest and OFI, will hear from Northern Mayors, Chief Secretary to the Treasury, James Murray MP, and Minister for Local Government Alison McGovern as well as leading business voices.
The Summit marks a decisive shift in how the North presents itself to the world, as a united force working collectively with Government to unlock national renewal and long-term growth.
Delivering the investment priorities could deliver tens of thousands of new jobs across the North of England, unlocking a new era of prosperity.
David Skaith, Mayor of York and North Yorkshire, said:
"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."
Chair of The Great North, North East Mayor Kim 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.”
Chancellor of the Exchequer, Rachel Reeves, said:
“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.”