Northern leaders unite to present £14bn “Great North” investment vision
Mayors and ministers launch a single regional pitch in Leeds today, aimed at transforming how the North attracts global investment
Leaders across the North of England have come together to launch a major plan to attract new investment and support economic growth.
At the first Great North Investment Summit happening today (18 May) in Leeds, they will reveal a pipeline of projects worth more than £14bn.
The aim is to present the North as one united region to global investors, rather than separate areas competing against each other.
The plan covers a region of around 16 million people and focuses on industries where the North already has strengths, including clean energy, advanced manufacturing, defence, artificial intelligence, life sciences and creative industries.
The initiative has been developed by the Great North partnership, led by North East Mayor Kim McGuinness, working with the Office for Investment.
It is supported by government and backed by Chancellor Rachel Reeves.
Chancellor Rachel Reeves said the plan shows the scale of opportunity in the North and its importance to the UK economy. She 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.”
North East Mayor Kim McGuinness said working together is key to unlocking growth:
“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.”
Hull and East Yorkshire Mayor Luke Campbell said the region needs to build on its strengths and move projects forward quickly:
“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.”
The government also said it is looking into a possible future UK Olympic and Paralympic bid based in the North, which could help drive further regeneration and investment.
Officials say the overall goal is to create thousands of new jobs and strengthen long-term growth across the region.