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 Andrew Stunell, John Leech & Mark Hunter 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, Hazel Grove MP Andrew Stunell said, “This is very welcome news for our area. The money for the transport interchange in Stockport is an excellent signal of support for regeneration in the town centre, which is vital for long-term prosperity.”

Manchester Withington MP, John Leech said, “This is welcome news for Greater Manchester and demonstrates the Government’s strong commitment to developing the prosperity of Manchester. We have already seen hundreds of millions of pounds of investment in Greater Manchester from the Government, improving infrastructure, creating jobs and allowing Manchester to reach its potential.

Devolving power and funding to Greater Manchester will allow the region to shape its future and deliver the changes needed to improve the infrastructure and create thousands of jobs.”

Mark Hunter, MP for Cheadle said, “The Greater Manchester Growth Deal is terrific news for Cheadle constituency and the wider region. 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 today agreed an historic Growth Deal with the Government which will see £476.7million invested in Greater Manchester, £169.7million has been confirmed in the first year, and 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:

• Major investment in public transport and roads, including 12 new Metrolink trams, a new Quality Bus Network Route 8 from Bolton to Manchester, new transport interchanges in Ashton & Stockport Town Centres
• 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.
• Reforming public services so that vulnerable people are provided with targeted employment support and Greater Manchester Leaders have more control over how the ASB is spent in the city region

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.”