A new guide has been published to help councils attract private and foreign investment into local areas.
The guide, published by the Local Government Association and Department for International Trade (DIT) provides advice on how councils can make an attractive proposition for investment in their area.
It highlights how Newcastle City Council joined up with Legal & General to fund one of the city’s biggest urban regeneration projects, while Bristol City Council launched the City Leap Prospectus with its partners to attract up to £1bn of low carbon and smart energy infrastructure investment over the next 10 years.
Sir Richard Leese, chair of the LGA’s City Regions Board, said: ‘As well as economic infrastructure, there is also a compelling need to invest in new social infrastructure, such as housing, industrial and commercial property, new schools and hospitals, to continue to regenerate and revitalise the UK’s town centres.
‘Councils have proven that they are already leaders of place. This guidance will help councils to attract investment in the right infrastructure to help their communities meet their full potential.’
Minister for investment, Graham Stuart, added: 'This new report is a brilliant starter for 10 for local councils looking to maximise the opportunities private investment can bring to their local area.'
