Great North Mayors and leaders launch multi-billion pipeline of investment opportunities
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, following a call by mayors and leaders in February.
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, Treasury Minister Dan Tomlinson, 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.
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.”
Steve Rotheram, Mayor of the Liverpool City Region, said: “The Liverpool City Region is all-in on growth – and we’re ready to deliver it. We’ve got the talent, the opportunity and the ambition to build an economy that’s greener, fairer and works for everyone.
“Together with partners across The Great North, we’re telling investors this is a place of real scale and opportunity. From Liverpool Central and the Knowledge Quarter to our waterfront, we’ve got projects that will create jobs, new homes and drive innovation.
“Give us the powers and investment, and we’ll turn potential into progress for every community.”
Tees Valley Mayor, Ben Houchen, said: “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, 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.”
Tracy Brabin, Mayor of West Yorkshire said:
“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.”
Luke Campbell MBE, Mayor of Hull and East Yorkshire, said:
“The North has always been built on hard work, industry and people who get on with the job. We know the North has the potential to make a real difference to the country’s future, and by working together we can bring more investment and better jobs into our communities.
“Hull and East Yorkshire has a huge part to play in that. Our region has a real strength in industries that matter, not just locally but nationally. My aim is to back what we’re already good at and take it further by getting key projects moving at pace so residents here can benefit from those opportunities.”
South Yorkshire’s Mayor Oliver Coppard said: “I’m determined to make sure that we’re building a bigger, better economy in South Yorkshire; creating good, secure jobs, better wages, and helping our communities to thrive.
“The Don Valley Corridor is where we bring our strengths together: our skills, our innovation and our world leading capabilities.
“By creating a new innovation and industry corridor across Sheffield and Rotherham, connected to the rest of the country through Northern Powerhouse Rail, we’re putting South Yorkshire at the heart of the North’s future growth.”
Cllr Louise Gittins, Chair of the Cheshire and Warrington Combined Authority and leader of Cheshire West and Chester Council said:
“Cheshire and Warrington stand ready to play a leading role in creating prosperity across the North and for UK PLC.
“Cheshire and Warrington’s trailblazing businesses and industries are rightly recognised in the Northern Growth Prospectus. But today is about more than individual places – it’s about the North coming together with a shared purpose and a shared ambition for growth, investment and opportunity.
“The North has scale, ingenuity and determination to drive the UK’s future prosperity. By working as one North, we can unlock that potential and deliver long-term impact; our vision is bold and united, and we have the collective strength to turn our vision into lasting national impact.
“The blueprint also complements the CWCA’s own ambitions and in the coming months we will be bringing forward plans to invest in accelerating growth priorities and business support for a region home to almost one million residents, national strengths in clean energy, life sciences and advanced manufacturing, 41,000 businesses, and a £4bn tourism economy.”
Cllr Stephen Atkinson, Chair of Lancashire Combined County Authority, said:
“Lancashire has a major role to play in the North’s growth story. It has one of the largest economies in the North West with strategic industries of nuclear, UK Cyber Force and defence.
“Alongside our great towns and cities, county areas like ours bring nationally significant strengths in advanced manufacturing, aerospace and clean energy, with the skills, supply chains and capacity these sectors need to thrive.
“That is why Lancashire is central to any serious proposition for northern growth.
“Major international events also help us showcase that offer to the world. When the Tour de France comes through Lancashire in 2027, it will put our landscapes, communities and economy on a global stage, provide a real boost for local businesses and help demonstrate why the North is such a strong place to live, work, study and invest.”
John Barradell OBE, Interim Chief Executive for Cumbria Combined Authority, said:
“There’s a growing sense of confidence across the North, with some serious opportunities now coming forward for investment and growth. Cumbria has a clear role to play in that, making sure we’re part of what comes next and that our communities benefit from it.”