Greater Manchester Launches Ambitious £1 Billion Plan for Economic Growth
Greater Manchester is set to embark on a significant economic initiative with a £1 billion plan aimed at fostering growth in the region. This ambitious strategy will support local communities and businesses through substantial investments.
Key Components of the £1 Billion Plan
Among the various projects outlined, £6.8 million will be allocated to enhance Prestwich in Bury. This funding aims to develop new retail spaces and a community hub.
Local Impact and Community Responses
Residents are optimistic about the potential benefits of this initiative. Bilal Sadiq, a 31-year-old from Oldham who works in Prestwich, expressed his support for the new development. He believes it’s essential for the region to see improvements similar to the ongoing skyscraper projects in Manchester.
- £1 billion investment for economic growth
- £6.8 million allocated for Prestwich development
- New shops and community hub planned
Collaboration for Local Investment
This plan marks the beginning of a new strategic partnership between the Greater Manchester Combined Authority and the local Pension Fund. This collaboration is noted to be the first of its kind in the United Kingdom, aimed at prioritizing local investments.
The initiative is expected to boost not only Prestwich but also areas like Rochdale and Oldham. Community leaders are hopeful that such investments will strengthen the region’s economic foundation.
