We are pleased to announce that we are now an official Northern Powerhouse Partner. This means that we have made a formal commitment to support the Northern economy and the Northern Powerhouse initiative, and proactively promote Northern success stories.
The Northern Powerhouse forms part of the government’s Industrial Strategy. The strategy’s key objective is to improve living standards and economic growth by increasing productivity and driving growth across the whole country. To deliver a highly-skilled, competitive economy, the strategy is built on 10 pillars –
- Investing in science, research and innovation
- Upgrading infrastructure
- Improving procurement
- Delivery affordable energy and clean growth
- Driving growth across the whole country
- Developing skills
- Supporting businesses to start and grow
- Encouraging trade and inward investment
- Cultivating world-leading sectors
- Creating the right local institutions
The government is focusing on tackling the major barriers to productivity facing the region – skills, enterprise, connectivity and trade – and boosting the economy by investing in skills, innovation, transport and culture.
Significant powers will be devolved and budgets will be allocated directly to elected mayors to ensure decisions on the North are made by the north. The Prime Minister appointed a dedicated Northern Powerhouse Minister, Andrew Percy, to work with colleagues across the whole of the government to make the North a driving force of UK economy and to seize opportunities presented by leaving the EU.
Over the past year, employment in the Northern Powerhouse has risen at a faster rate than the UK average. By April 2017 there will be 17 enterprise zones supporting businesses across the North; in partnership with British Business Bank, LEPs, the European Regional Development Fund and European Investment Bank, a £400million Northern Powerhouse Fund of lending and investment is now available to SMEs; millions has been invested in the Graphene Institute; and the Sir Henry Royce Institute has been backed to the tune of £235 million.
But what does being a Northern Powerhouse Partner mean for Inventya? Our commitment means we’ll be helping to drive the message that the North is THE place to do business. We will promote the North, our partners, and success stories from the region through our social media channels, the press, and through events we attend and organise, and we encourage our contacts and northern businesses to get in touch and tell us your good news so that we can share it.
We are proud to be a Northern Powerhouse partner and we share the ambition to make the North a driving force of the UK economy.
Read more about the government’s Industrial Strategy.