Mayors and local leaders will help choose up to 10 major industrial and commercial sites to receive a share of a £700m government funding package, ministers announced today.
The Strategic Sites Accelerator will offer loans, equity and grants, plus expert support on planning, grid connections and finance. The Government hopes to attract up to £2bn in private investment and create tens of thousands of jobs over time.
Talks are already under way on sites in Glasgow, Burgess Hill and Sheffield, and the scheme is exploring opportunities across regions including Greater Manchester, West Yorkshire and the West Midlands.
Greater Manchester Mayor Bev Craig called it a welcome step towards removing barriers to development. West Midlands Mayor Richard Parker said it was the kind of partnership needed to attract private investment.
Chancellor of the Exchequer John Healey said: ‘Local leaders know their communities best. Only by trusting them with real power and resources will we see change.
‘This £700m package is helping break down the barriers to local growth, so people can feel the benefits of a growing economy and love where they live.’
