Northern Powerhouse to receive £556m cash allocation boost - CILT(UK)
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LATEST NEWS

Northern Powerhouse to receive £556m cash allocation boost

24 January 2017/Categories: CILT, Industry News


Business leaders and politicians have welcomed a newly-allocated cash injection of £556m for the government's Northern Powerhouse project.

The money will fund flood defences in Yorkshire, a £10m innovation fund for businesses in Manchester and Cheshire, and regeneration in Hull city centre.

It was announced by Prime Minister Theresa May amid plans for a new more interventionist industrial strategy.

She detailed the funding during her first regional cabinet meeting, held at a science and business park in Daresbury, Cheshire.

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.

Source (BBC): http://www.bbc.co.uk/news/uk-england-38721046

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