The leaders of Greater Manchester have recently unveiled a comprehensive and ambitious strategy for the city region's economic future: a £1 billion growth plan. This landmark investment is set to fund 30 new projects across the area, signalling a major commitment to expanding the current economic boom beyond the city centre and into all corners of the conurbation.

This is truly exciting news for the North West. Greater Manchester has already established itself as the fastest growing part of the UK economy, achieving an impressive annual growth rate of 3.1 per cent, which is more than double the rate of the country as a whole. The key challenge now, according to Mayor Andy Burnham, is ensuring this success is sustainable and equitably distributed; this is the core principle behind the new GM Good Growth Fund.

Pioneering a New Economic Model

The scale of this initial investment is substantial, yet its long-term potential is even greater. The first wave of schemes is expected to deliver remarkable results:

• Nearly 3,000 new homes.

• The creation of 22,000 new jobs.

• The development of two million square feet of dedicated employment space.

Mayor Burnham noted that this initial commitment is expected to unlock a further £1.3 billion in private capital, which is a key component of the region's desire to "pioneer a new model for economic growth" over the coming decade. This approach moves beyond simple investment, aiming to create a powerful, self-sustaining financial ecosystem.

Strategic Investment: The GM Good Growth Fund

The £1 billion funding package is drawn from various government pots of cash, alongside a significant £300 million contribution from the Greater Manchester Pension Fund. This collaborative financial structure is designed to benefit local communities directly. Furthermore, some of the funding will be structured as loans, ensuring that once they are successfully repaid, the capital can be promptly reinvested in future regeneration projects, securing a long-term pipeline of development.

Crucially, the launch of this fund marks the start of a new strategic partnership between the Greater Manchester Combined Authority and the region's Pension Fund. This focus on prioritising local investment is thought to be the first of its kind in the UK, setting a powerful precedent for regional leadership.

As Mr Burnham stated, "Good growth is the defining challenge of our age and today we are setting out a serious, practical plan to achieve it."

Regeneration in Action: Town Centres Transformed

The vision for the future is clear: to ensure that the economic benefits are felt across the entire conurbation. The initial £400 million wave of funding is already targeting specific areas for vital regeneration.

This includes significant housebuilding schemes, such as the Prince's Gate development in Oldham and Wigan's Cotton Works. Furthermore, substantial investment has been allocated for town centre regeneration projects in key areas:

• Ashton-under-Lyne in Tameside.

• Prestwich in Bury, where £6.8 million will be used to create new shops and a community hub.

Support will also be given for Mayoral Development Zones in areas including Stockport, Bolton, Leigh and Middleton, demonstrating a clear focus on boosting local economies outside the traditional central business district.

The enthusiasm for this decentralised approach is shared by residents and workers alike. Bilal Sadiq, who lives in Oldham and works in Prestwich, welcomed the investment in his local community, highlighting the positive change these resources will bring to town centres across Greater Manchester.

Clicky’s Role in Greater Manchester’s Digital Landscape

At Clicky, we are immensely proud to be part of this dynamic economic narrative. Our recent move to the heart of the city aligns perfectly with Greater Manchester’s ambitious growth plans, placing us right in the centre of this development surge. We are actively supporting this transformation by working with some of the region's biggest developers and construction firms, helping them to navigate the digital landscape. Our expertise in digital advertising and marketing ensures these major new projects are effectively promoted, attracting the necessary investment and buyers to deliver the thousands of new homes and commercial spaces vital for the region's future success.

The GM Good Growth Fund is not simply about building homes and creating jobs; it is about delivering a strategic, ethical and inclusive form of growth. By leveraging both public sector funding and private capital, Greater Manchester is pioneering a truly devolved model for regional economic success that other areas of the UK will surely be watching closely.