North East-based developer Marchday Group has written to the government urging it to locate the proposed Green Investment Bank (GIB) in the Tees Valley.
Marchday this week sent an impassioned letter to Justine Greening, the economic secretary to the Treasury, after prime minister David Cameron namechecked the GIB in his speech at the Conservative conference in Birmingham yesterday.
In the letter, Marchday director John Orchard writes: “Choosing the Tees Valley as the adminstrative centre for the GIB would provide a much needed injection of public sector jobs to the North East, as well as facilitating employment for engineers and workers at the manufacturing frontline through its investments.
“It could significantly reduce unemployment, reclaim the lost generation of young people and stimulate the economy on a long-term scale. The GIB has the opportunity to be a force behind the North East’s regeneration.”
The GIB, proposed by the Labour government in its 2010 budget and confirmed in the Queen’s speech, aims to fund low-carbon transport and energy schemes and has secured widespread support.
Click here to read the full letter
samantha.mcclary@estatesgazette.com
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