Andy Burnham has unveiled the latest plans to deliver a decade of good growth in Greater Manchester, backed by at least £500 million of investment from the National Wealth Fund, as the city region launches a bid to host the biggest ever Ryder Cup in 2035.
This wave of investment from GM Good Growth fund unveiled, pumping £420m into new homes, infrastructure and industry
UK-first £1bn fund will almost double in size, including new £500m partnership with National Wealth Fund in a bold new approach to public investment, and £175m from Government
Projects backed in second phase include £314m of transport investment and £85m for new housing schemes
New link road in Bolton will help Greater Manchester get ready to host the biggest ever Ryder Cup, with golfing champion Tommy Fleetwood backing the tournament coming to the North
Mayoral Development Corporation in Oldham set to back £70m state-of-the-art SportsTown, while film and TV sector boosted by new £10m GM Production Fund, and green energy
Andy Haldane, the President of the British Chambers of Commerce, praised the Good Growth Fund as “a fantastically innovative way of solving a really deep-rooted longstanding problem in the UK, which is that far too little money is flowing outside of the South East.”
The former Chief Economist for the Bank of England said he hopes Greater Manchester’s approach can be replicated across the UK “to make good on the holy grail that is national growth.”
Another 12 projects are now set to receive investment in the second round of allocations from the GM Good Growth Fund, which has now doubled to almost £2 billion.
This includes £35 million for new 248 homes in Prestwich Village, £26 million for 423 social rent, extra-care and affordable homes in Wythenshawe and £24 million for 249 homes in Stretford town centre as well as £60m for a new Metrolink stop in Sandhills in north Manchester.
We’re also backing Oldham’s £70 million SportsTown masterplan, which aims to create state-of-the-art sporting, health, education and community facilities around Boundary Park, improve infrastructure and create new job opportunities.
A new Mayoral Development Corporation will bring together partners to drive forward an ambitious vision for the area, speeding up development and attracting investment.
These state-of-the-art sporting facilities, which includes a multi-sport centre of excellence, with world-class netball and basketball facilities, will be built with the North of England’s bid to host the next Olympic and Paralympic Games in mind
Meanwhile the region is planning to submit a compelling bid with Peel Retail & Leisure to host the biggest ever Ryder Cup in the city region in 2035.
The Mayor is supporting plans to bring the tournament to a new world-class, purpose-built golf course planned at Hulton Park, Bolton. It would be the first time in more than 30 years that England has hosted the world-renowned tournament.
As part of the package the fund is committing up to £69.8 million to deliver Park Avenue – a significant package of transport improvements that will benefit the area.
This will support delivery of the first phase of a new M61-M6 link road, new cycling and walking routes, and new bus routes to the Ryder Cup site.
Andy Burnham, Mayor of Greater Manchester, said:
“The success of the BRIT Awards in Manchester shows that we can we attract and deliver international events to a brilliant standard. Culture and sport will be major drivers of our good growth, and that’s why we’re bidding to host the biggest ever Ryder Cup in Bolton in 2035.
“We’ve had promising conversations with organisers about bringing the tournament to a bespoke, world-class course at Hulton Park. But it will only be possible with the right infrastructure. We’re doing our bit to make it happen. We’re committing up to £70 million to deliver a transport package to not only help spectators get to the site but deliver major benefits for the people living in the surrounding areas.
“As well as the new jobs and tourist spend the Ryder Cup would deliver, there’s also a chance to deliver a lasting legacy. We want to work with Government to align transport investment to the tournament – delivering more frequent and modern trains on the Atherton line, investing in better rail stations and speeding up work to connect the area to the Metrolink network.
“We’re serious about making sure every part of Greater Manchester benefits from our approach to good growth. By almost doubling our Good Growth Fund, thanks to a landmark partnership with the National Wealth Fund and new investment from Government, we can invest in bringing even more homes, jobs and opportunities to our communities.”
