At the country's premier property event today, the North East has debuted investment options valued at £14bn.
The North East Investment Prospectus was unveiled by North East Mayor Kim McGuinness at the º£½ÇÊÓƵREiiF conference in Leeds. The prospectus presents a collection of investment possibilities poised to deliver thousands of new jobs in key sectors such as offshore energy, advanced manufacturing, creative industries, life sciences, digital, defence and space.
The prospectus contains 23 sites spanning industrial, commercial, and residential development aggregating over 18m square feet reflected in the prospectus.
In collaboration with the North East Combined Authority and consultancy firm Arup, the region's seven councils have pinpointed these sites in preparation for the opening of the North East Pavilion at º£½ÇÊÓƵREiiF. Highlighted within the prospectus is the North East Investment Zone, through which the combined authority will channel £160m to stimulate private sector investments and generate 4,000 jobs over the next ten years.
This strategic blueprint has already received endorsements from several industry leaders, who are attending the º£½ÇÊÓƵREiiF alongside the mayor and council chiefs, reports .
Speaking about the effort, Ms McGuinness shared: "We've brought North East England together for the first time at º£½ÇÊÓƵREiiF to profile the new energy in our region and the unique offer we can make to investors.
"We have created a £4.4bn portfolio of prime development opportunities in our first Investment Prospectus building on our world-class credentials in advanced manufacturing, life sciences, the creative industries and clean energy.
"That is just the heart of £14bn of opportunity that runs through our fast-growing cities and exploits our unique location with three major ports on the North Sea coast.
"As the first North East mayor I am excited to be driving investment on a scale never seen before to create growth, jobs and opportunities. We are building new infrastructure, growing skills and working closely with our Local Authorities to unlock our huge potential in these sites."
John McCabe, chief executive of North East Chamber of Commerce and chair of the North East Combined Authority Business and Economy board, expressed: "I believe the North East Investment Prospectus will unlock new opportunities, attract significant funding and help ensure prosperity reaches all corners of our region.
"We will work closely with business to create the conditions for investment – supporting innovation clusters, boosting trade and ensuring local firms are connected into key regional infrastructure and regeneration projects.
"This is about ensuring economic growth translates into real opportunities for individuals, families and communities. It is a plan to invest in skills, infrastructure and innovation so the North East is not only competitive but enjoys sustainable growth."
For the first time, the North East Mayor and all seven local authorities have united at º£½ÇÊÓƵREiiF to promote investment opportunities with a cohesive approach. The region is represented by a delegation of 100 from both private and public sector organisations.
The investment prospectus features schemes such as the Baltic quarter in Gateshead, Riverside Sunderland, the Durham Innovation District and the Health Innovation Neighbourhood in Newcastle.
Yesterday, Ms McGuinness joined other mayors from across the North in launching the Great North initiative, which seeks to utilise the spirit of the Great North Run to stimulate economic enhancements throughout the region.
