Greater Manchester is setting out a game-changing plan to pioneer a new model of economic growth that benefits every community and district, Mayor Andy Burnham announced today.
Over the past decade, Greater Manchester has become the fastest-growing part of the UK economy, with annual growth of 3.1% – more than double the national rate. A recent Oxford Economics report hailed the city region as a “trailblazer for local devolution.”
Analysis shows that maintaining this growth trajectory could make the Greater Manchester economy a third bigger within 10 years, adding £38bn to national finances.
To achieve this, the Mayor unveiled plans for a UK-first Integrated Pipeline of housing, employment, and regeneration projects, backed by a £1bn GM Good Growth Fund to accelerate development at a scale not seen this century.
The first wave of £400m funding will deliver 3,000 new homes, 22,000 jobs, and 2 million sq ft of employment space
This initial investment is expected to unlock £1.3bn in private capital, driving regeneration across the region.
Key projects include:
- Revitalising town centres with developments like Oldham’s Prince’s Gate and Wigan’s Cotton Works
- Tackling the housing crisis through schemes such as Victoria North and Salford’s Adelphi Village
- Expanding the innovation district with projects like Mayfield, Sister, and new lab space for advanced materials, life sciences, and green tech
- Connecting communities via the Bee Network, Greater Manchester’s safe, green, and affordable transport system
Andy Burnham, Greater Manchester Mayor said:
“Greater Manchester is the UK’s economic success story of the past decade.
“Powered by devolution, our journey of growth has transformed our city region and is opening up opportunities that people could not have imagined 30 years ago.
“But we know that the real test of good growth is whether every person and every place feels the benefits.
“We’ve never believed in a busted ‘trickle-down’ theory that puts the pursuit of pure economic growth above the basic needs of our communities.
“And growth in Greater Manchester has never been an end in itself – it's a means of improving lives by creating new opportunities and broadening access to them.
“We know we will only change the fortunes of our people and places by getting on with fixing the things national politics has neglected.
“That’s why we’ve used our trailblazing devolution deals to put public services back in service of the public, becoming the first region in 40 years to bring buses under local control.
“And it’s why Greater Manchester is ready to pioneer a new model for economic growth – unlocking investment to build new homes, create good jobs, deliver infrastructure, and providing the everyday support that will enable everyone to live a good life.
“Good growth is the defining challenge of our age – and today we are setting out a serious, practical plan to achieve it.”
The plan also includes a Regeneration Skills Academy to equip local people with the skills needed to deliver these projects, and a strategic partnership with the Greater Manchester Pension Fund, providing patient capital for sustainable growth.
The GMCA will approve the first wave of funding next week, with a second wave announced in March.
Image credit: iStock
