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July 8, 2014 12:18 PM

The Greater Manchester Growth Deal, which will see over £450million invested into Greater Manchester over the next few years, was strongly welcomed by Greater Manchester MPs Mark Hunter, Andrew Stunell and John Leech when it was announced today.

The deal will help to create 5,000 jobs, support over 75,000 people learning new skills and generate up to £80million in private and public investment.

Commenting, Mark Hunter, MP for Cheadle constituency said:

"The Greater Manchester Growth Deal is terrific news for Cheadle constituency and the wider region. As a member of the Local Growth Cabinet committee I been supporting the Coalition Government's commitment to ensuring that growth is not concentrated in London. This funding is one more helpful step to help in our nationwide, economic recovery.

"Along with the redevelopment of the public transport hubs and the additional support for local businesses, I am delighted that there will be new money to enhance local further education colleges - it is imperative that we continue to invest in our young people by providing more apprenticeship opportunities."

The Greater Manchester Local Enterprise Partnership agreed a historic Growth Deal with the Government which will see £476.7million invested in Greater Manchester, £169.7million has been confirmed in the first year. As part of the Government's on-going commitment to the Greater Manchester LEP it has provided an indicative aware of a further £307million of funding from 2016/17 onwards.

The key features of the deal are:

  • Reforming public services so that vulnerable people are provided with targeted employment support and Greater Manchester Leaders have more control over how the Adult Skills Budget is spent in the city region
  • Securing Greater Manchester and the North West's place as a major centre for Life Science in the country with a new fund to be spent locally developing the industry
  • Major investment in public transport and roads including road improvements on the A6, a new link road, bus improvements and a new transport interchange in Stockport Town Centre that will renovate the links between bus and rail stations to create a better environment for passengers, and improved access for both cyclists and pedestrians

The Greater Manchester Growth Deal is part of a £12 billion long-term programme to revitalise local economies. The deals are the latest and greatest example of the British economy being rebuilt from the bottom up, and sharing the benefits of the recovery around the country.

The Deputy Prime Minister, Nick Clegg, said - "The Greater Manchester Growth Deal will create thousands of jobs, provide incredible new training opportunities for young people, and improve transport links across the region for people and their families; building a stronger economy and a fairer society."

"We're placing the power and money in the hands of people in Greater Manchester who know how to spend it best, making a real difference to local communities."