Deputy Prime Minister Nick Cleg has announced an investment of £1 billion under the Regional Growth Fund which will kick-start 130 projects across England.
The Government has estimated that today’s latest round of spending could create 240,000 jobs, many of those in the building construction industry.
The fund will help manufacturing firms, small businesses and local partnerships to expand their operations, create new jobs and stimulate economic growth.
Deputy prime minister Nick Clegg said: “This £1 billion boost for growth in towns and cities across England is creating jobs that will last in the parts of the country that need it most.
“In tough economic times the Regional Growth Fund is good value for taxpayers’ money – this £1 billion round of the fund is pulling in £6 billion of private sector investment.”
CBI chief policy director Katja Hall said: “The Regional Growth Fund is helping to meet businesses’ needs for growth capital up and down the country, enabling the successful companies to get projects off the ground.”
Commenting on the new initiative, business minister Michael Fallon, said that this is a significant investment which will help different sectors and provide strong economic boost for businesses across the country.
Mr Fallon said: “The selection process has been very fast – from companies applying to allocating funds in only five months.
“So we are keen to get a move on which is why this time, those selected have now only three months to agree final offers, and three months to complete due diligence. We want to ensure good value for the taxpayer and to get these projects started as soon as possible.”
South Essex College has signed a £33 million contract with Skanska which will see the building of a new 2,500 place student campus in Essex.
Construction of the scheme is set to start immediately with the new learning campus being ready to open in the summer of 2014.
Skanska will be responsible for the construction of three and four storey buildings covering around 150,000 sq ft. It has the target of achieving BREEAM excellent rating and the facility will incorporate rainwater harvesting, air source heat pumps and roof level PV installations.
The project is expected to create hundreds of new jobs in the construction sector.
The new college aims to boost local construction skills and will teach welding, brickwork, carpentry, engineering, mechanical, electrical and plumbing skills.
Following the completion of the new facility, Skanska will undertake landscaping and associated works which will include car parking, cycle storage and external landscaping.
Paul Heather, Managing Director of Skanska for London and the South East said: “We have successfully delivered a number of world-class education facilities across Essex in recent years and this has enabled to bring together a wealth of experience, skills and expertise to this project.
“The development of the new Thurrock Campus will provide excellent facilities for the students, teaching staff and the wider community and we are proud to be part of creating this key learning environment”.
Scarborough Development Group has submitted plans to build a £400 million development at Thorpe Park, East Leeds, which could create up to 6,500 new jobs and boost the trades.
The mixed-use development scheme is designed to meet the needs of business occupiers as well as provide a valuable hub for local communities in Leeds.
It comprises 1.2 million sq ft of office space, 130,000 sq ft food storage area, 177,000 sq ft leisure area for hotels and additional 33,000 sq ft for dining outlets.
The project will also bring the delivery of a 113-acre Green Park and Leeds’ first significant new public park in over 100 years.
Commenting on the plans, Mark Jackson, Managing Director of Scarborough Development Group said: “Our new plans will present a step-change at Thorpe Park with a new offer for established businesses, growing businesses and fledgling business.
“We want Thorpe Park to be an engine for economic growth in the immediate area, and a benefit to the whole City Region.”
Mr Jackson outlined the wider benefits of this development for creating new jobs and boosting the local economy.
He said: “Thorpe Park has the potential not just to boost the economy of the city region and help cement Leeds’ position as a regional capital, but also to provide thousands of new job opportunities for local people built around a more diverse economy and range of uses on the park.”
A plan to boost housebuilding in Manchester and make new homes more affordable has been agreed this week which will generate new employment opportunities in the trades.
Manchester City Council has signed an agreement with the Greater Manchester Pension Fund (GMPF) and the Homes and Communities Agency (HCA) to bring together a completely new way of funding homebuilding in the city.
The scheme is set to build more than 240 new affordable homes and create thousands of jobs in the construction industry.
Land for the development will be provided by the city council, including one site offered by the HCA, while the Greater Manchester Pension Fund will finance the building of the homes.
The partnership will choose a contractor to build the homes whilst the city council supports the buyer, by taking an equity share in the property, making the new homes more affordable and mortgage costs lower.
Cllr Jim Battle, Deputy Leader of Manchester City Council, said: “Manchester’s growing population and forecasted economic growth will mean we will continue to need more homes in the near future.
“The economic climate has severely slowed home building in recent years and levels of development are not keeping up with the city’s demand.
“This new innovative model tackles these issues, pushing forward development opportunities while ensuring a supply of new attractive homes are available to residents at affordable prices.”
Deborah McLaughlin, North West Executive Director at the HCA, said: “At the HCA our focus is to employ new and innovative ways of working to use public land assets to more quickly deliver homes and economic growth. This new concept marks a major milestone for house building in Manchester and has the potential to attract major investment to the city.”
The Citizens Advice Bureau and TrustMark, the Government endorsed quality body, have joined forces to help homeowners find reputable tradesmen when they are looking to repair or maintain their properties.
Consumers from across the UK will now be able to search and select a TrustMark registered and inspected tradesman from the Citizens Advice website.
Homeowners in England, Scotland, Wales and Northern Ireland will have the assurance that all the firm’s competences and their fair trading practices have been independently inspected and checked.
Stuart Carter, Head of Marketing at TrustMark, said: “We are always looking for better ways to increase visibility for this quality mark so we are delighted that Citizens Advice is now signposting consumers to our TrustMark registered tradesmen.
“It is important that we continue to do more joined-up working with the key agencies, independent third sector organisations, trade bodies and advisory services to help consumers make more informed decisions when hiring tradesmen to improve or repair their homes.”
Gillian Guy, chief executive at Citizens Advice, said: “TrustMark is an excellent example of the kind of creative problem prevention initiatives that we really value at Citizens Advice.”
What is your reaction to the partnership which aim is to help consumers make the right choice when they are looking to repair, maintain or improve their homes. Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.
Negotiations over the site for the new building have delayed the project, but now tenders will be invited to build the hospital next to the Royal Infirmary of Edinburgh at Little France.
The project is scheduled for completion in 2017 and is part of a national initiative supported by the Scottish Futures Trust, which will see £750 million of investment in health facilities across Scotland.
The new site’s owners agreed to give the health board the land, currently a car park, in exchange for another site.
Health Secretary Alex Neil said: “There have been delays with the new Sick Kids Hospital in the past, due to land and commercial issues with an inherited PFI contract on the proposed site.
“I am pleased to say that there is now a framework in place to resolve the legal and commercial issues that arose in the original contract.”
Mr Neil said that the Scottish Government has already invested £1 billion into the building of new hospitals across the country. He committed to invest another £1 billion over the next two years.
Commenting on the announcement, chairman of NHS Lothian Charles Winstanley said: “The benefits of having children’s, maternity and adult services on the same site are well documented.
“This new building will add to the existing facilities at Little France to create a centre of excellence, bringing paediatric care, specialist neonatal care, neurosciences and A&E together.”
Construction work on the Peel Group’s project is scheduled to start next year, paving the way for jobs in the building sector and giving ‘a real economic boost’ to the region.
Leader of Medway Council, Cllr Rodney Chambers, said: “This is a major step forward for the regeneration of Medway and is a clear indication of how the area is growing and continuing to attract significant investment from developers and businesses.
“Not only will it create thousands of jobs for residents in the near future, but it will provide opportunities for future growth and unrivalled facilities for residents and visitors alike to enjoy and benefit from.”
The major development will build hundreds of new homes, a hotel, a supermarket, office and retail space, as well as education and community facilities.
James Whittaker, Development Director at Peel said he was delighted the Government has approved outline plans for Chatham Waters.
Mr Whittaker said: “The plan will regenerate and breathe new life into a significant area of the dockland and give the region a real economic boost.
“We will now continue preparing detailed plans for the first phase and we hope to start building on the site next year.”
The “Jobs for Growth” programme, which was officially launched today, is now the UK’s biggest coalition of companies making the case for investment in the building of new homes to quickly stimulate growth and generate jobs.
The organisation is targeting specific areas in the UK construction sector, reaffirming that there are significant benefits for investing in housebuilding and infrastructure projects.
For example, every £1 spent in construction generates £2.84 in economic activity, whilst 92% of the investment is retained in the UK, supporting manufacturing and the skills which the country needs.
Jobs for Growth founder Mike Leonard said: “The UK needs jobs and growth, and building our way out of recession is now the only solution left to Government.
“After a golden summer of sporting achievement, we need to capture some of that Olympic spirit, positivity and determination and go for gold in Jobs and Growth.”
Mr Leonard said: “Over the coming months we will work closely with all our local and national politicians, banks and other decision influencers to build the case for Jobs and Growth.
“We have the demand, the will, the land, the materials and the skills to make this happen. With the same level of focus, commitment and pride demonstrated by our athletes this summer, the building industry can lead Britain out of recession.”