Latest Public Sector News

26.07.11

Cities compete to house Green Investment Bank

Manchester, London, Leeds, Bristol and Edinburgh are all now in the running to house the new £3bn Green Investment Bank.

Greater Manchester’s public sector leaders are expected to approve the city’s bid at a meeting next Friday, according to thebusinessdesk.com

A report into the city’s proposed bid to house the new investment bank says: “It is expected that such an investment would lead to an increased job opportunities, specifically in the financial and professional services sector as businesses associated with the sector are attracted to locate in close proximity to the bank.

“Similarly, it will generate additional growth through synergies with other institutions associated with the sector, including banks and utility companies.”

It says the city has the largest concentration of financial services industries outside of London and noted the presence in the city of firms like Rothschild, Co-operative Financial Services, RBS Global Banking and BNY Mellon.

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