The Government is using five momentous projects within the city of Manchester in a bid to attract and secure foreign investors to the region. The projects, just shy of a staggering £2bn, will be used to promote the major opportunities Greater Manchester has, to potential suitors by The Department for International Trade (DIT).
The DIT is outlining five major developments including: Trafford Waters, a £1bn scheme of the banks of the Manchester Ship Canal; MediaCityUK, a £1bn expansion of Salford Quays; Future Carrington, a £100m development including a new village of 725 homes and one million sq. ft. of business space in Trafford; Stockport Exchange, a scheme devised to deliver up to 375,000 sq. ft. of office space and 28,000 sq. ft. of commercial floor.
These five projects are viewed by the Department of International Trade as prime examples of developments for global backers – and key projects that may tempt foreign investors into the region. DIT conclude the economic potential across the city of Manchester as an ‘ecosystem for investors’.
International Trade Secretary, Dr Liam Fox, launched a new drive to attract foreign investment into the UK at the meeting of the board of trade in May this year. Over £30bn across 70 projects has been promoted through a revamped online one stop shop launched to help potential global investors source UK projects.
Other development programmes occurring in nearby northern powerhouse regions include: Wirral Waters, Kirstall Forge in Leeds, Pall Mall Exchange in Liverpool and Liverpool Waters. Besides regeneration projects occurring across Manchester that help the region to flourish financially, the drive will also see an extension of the government’s High Potential Opportunities (HPO) Scheme. A scheme piloted in Manchester that allows a complete focus on driving attention and interest to areas rather than individual projects.
Dr Liam Fox, International Trade Secretary, said:
“This is a bold and ambitious programme, building on the UK’s position as the leading destination for foreign investment in Europe through the government’s Industrial Strategy, helping to build a Britain fit for the future.
“The High Potential Opportunities scheme will deliver growth where it is most needed, ensuring that the benefits of global investment are felt in every part of the country.
“And with more than £30 billion worth of new opportunities, my international economic
department’s overseas network is working hard to attract top investors to the UK.”
High Potential Opportunities scheme focusses on research, testing and production of lightweight materials and is now taking applications from business organisations, Local Enterprise Partnerships and councils from across England, Scotland, Wales and Northern Ireland. Future plans focus on more than 20 new sectors and areas of the UK to clinch the opportunity to boost investment in the region – establishing new jobs and securing the UKs prosperity.
Carolyn Fairbairn, CBI director-general, said:
“The UK has a strong standing when it comes to attracting investment to these shores. That
investment leads to real, tangible benefits for people and communities – more jobs, prosperity and choice.
“The International Trade Department’s drive to attract billions of pounds worth of investment to projects in each corner of the country is warmly welcomed by firms.
“The new online catalogue of British projects for global investors to find and research will also be a vital tool to attracting even more capital to the UK, enabling the benefits of free trade and investment to flow into our communities.”
Through the Modern Industrial Strategy, the great strengths of the UK economy are identified and the government recognise the success. A long-term plan to boost the productivity and earning power of people throughout the UK is in the process of being constructed. Aiming to outline how the government can obtain a Britain fit for the future is a fundamental focus, placing a prominent role in assisting businesses to create higher paying jobs in every part of the UK with investment in skills, industries and infrastructure.
Increased investment in these sectors, intrinsically advances opportunities within property. RWinvest, a leading property investment company based in Liverpool state,
“Opulent new builds in Manchester are rapidly multiplying and reshaping the city’s skyline – meaning now more than ever is the time to consider a Manchester property investment. The city is quickly establishing itself as one of the nation’s leading property investment markets”.
