A report into how £1 billion of investment in infrastructure projects in Manchester will generate a £5.5bn boost to the national economy has been published.
The report on a three-year programme of works across Manchester by regeneration experts Ekosgen highlights how Manchester city centre could attract 40,000 more jobs and 50,000 new residents over the next decade.
Current regeneration projects such as the Metrolink’s Second City Crossing, The Northern Hub, Cross City Bus Corridor and the redevelopment of Victoria Station, as well as developments such as NOMA, First Street, Spinningfields and regeneration at St Peter’s Square, have added to an ‘unprecedented wave of investment’ since 1996, says the report.
Sir Richard Leese, leader of Manchester City Council, says: “Manchester is Britain’s fastest-growing city and a place which has a real sense of ambition and momentum. City centre growth means more investment, more jobs and more opportunities. If you take a look around the city centre now you’ll see a huge amount of work already underway, with more to come over the next three years.
“People will understandably ask why all this work is going on at the same time. The answer is that we need to plan to ensure the city centre is ready for a growing business base and population rather than react when it is too late.”
Councillor Andrew Fender, chair of the Transport for Greater Manchester (TfGM) Committee, adds: “This is a hugely exciting time for Manchester and the wider city region – we are laying ambitious foundations for a prosperous future.
“The evidence of that investment will be clear to anyone visiting or passing through – with a lot of activity in key areas. All of that activity and work is symbolic of the growth we’ve nurtured and which we need to continue to support long into the future.”
A Twitter feed providing updates on ‘Grow’ projects has been launched at @MCRGrow.