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Northern Powerhouse cash allocation announced

January 28, 2017 | Landlord News  

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Prime Minister, Theresa May announced the approval during her industrial strategy plans stating that there was a need to “drive growth across the whole UK,” in order to create a “truly global Britain”

The money will help fund projects including:

  • A new £10m innovation fund for small to medium businesses in Greater Manchester and Cheshire
  • Flood defences in Leeds, Bradford, Calderdale, Craven and Kirklees
  • A £72m cash boost for the Liverpool City Region to help create jobs and growth
  • The Goole Intermodal Terminal to link the town’s existing rail, sea, motorway and waterway links on one site
  • A modern conference centre and hotel in Blackpool at the town’s Winter Gardens
  • Further regeneration of Hull City Centre, during the city’s year as UK City of Culture
  • An International Advanced Manufacturing Park in South Tyneside and Sunderland, expected to create 5,000 jobs

The £556m has been allocated from the Local Growth Fund cash pot of £1.8bn which was declared in the Autumn Statement and will be apportioned to 11 Local Enterprise Partnerships across the North. It is part of a broader scheme aimed at boosting the post-Brexit UK economy and creating jobs, with a particular focus on investment in science, innovation and research.

Leeds City will receive 367.5m which is will make a significant difference to local businesses and the opportunities that Leeds offers.

Let Leeds Managing Director, Luke Gidney welcomes the plan, commenting that: “It’s great news for the people of Leeds and the surrounding area that the government are really buying into the Northern Powerhouse, which in turn will create new jobs, economic growth and improve the area. It’s brilliant for the large Northern cities who will work together to make a big mark on the UK economy.”

These are great times for Leeds. To be part of the exciting developments why not take a look at our full list of buy-to-let properties by clicking here or by calling our Sales Team on 0113 320 2000.

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