£556m boost for Northern Powerhouse

Theresa May

The UK government said it will announce a £556 million boost for the Northern Powerhouse at a regional cabinet meeting on Monday “to help create jobs, support businesses and encourage growth.”

The government said prime minister Theresa May will use her first regional cabinet meeting to launch proposals for a “modern industrial strategy to build on Britain’s strengths and tackle its underlying weaknesses to secure a future as a competitive, global nation.”

Goole Intermodal Terminal linking rail, sea and road, a conference centre in Blackpool, and a new innovation fund for Manchester and Cheshire businesses will be among the locally-chosen projects set to benefit from the £556 million Northern Powerhouse boost over the next few years.

The government said the latest award of local growth funding is on top of £2.9 billion of “Growth Deal” funding already awarded to the 11 Local Enterprise Partnerships in the region.

It said new projects include:

  • Goole Intermodal Terminal which will mean the town’s existing rail, sea, motorway and inland waterway links into one site, providing an integrated transport facility for business
  • A 21st century conference centre and hotel in Blackpool at the Winter Gardens – helping the town re-establish its presence as a leading conference destination
  • £10 million for the Greater Manchester and Cheshire Life Sciences Fund to provide capital to local small and medium businesses to drive the growth of innovative young life sciences businesses
  • Flood resilience measures in Bradford, Calderdale, Craven, Kirklees and Leeds. These will complement existing government investment and help safeguard over 11,000 jobs and 1,300 businesses
  • Building the International Advanced Manufacturing Park in Sunderland and South Tyneside – helping to creating an estimated 5,200 jobs.

The government said the 11 Local Enterprise Partnerships in the Northern Powerhouse have been awarded:

  • North Eastern £49.7m
  • Cumbria £12.7m
  • Tees Valley £21.8m
  • York, North Yorkshire, East Riding £23.7m
  • Lancashire £69.8m
  • Humber £27.9m
  • Leeds City Region £67.5m
  • Liverpool City Region £72.0m
  • Greater Manchester £130.1m
  • Sheffield City Region £37.8m
  • Cheshire and Warrington £43.3m