Magazine article New Statesman (1996)

Central Salford: Investing in Regeneration

Magazine article New Statesman (1996)

Central Salford: Investing in Regeneration

Article excerpt

In a recent survey, conducted by the Centre for International Competitiveness, Salford was confirmed as the fourth most improved city for business competitiveness in the UK and, along with Liverpool and Manchester, responsible for boosting the economic performance of the North West of England as a whole.

The survey is the latest to confirm the city of Salford's resurgence. In August 2007, Salford was named 5th in the Royal Bank of Scotland's Affordable Affluence Index. The report highlighted the phenomenal programme of investment as one of the key drivers of the city's rise. Central Salford URC, in close partnership with Salford City Council, is responsible for driving that investment forward.

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Central Salford was designated by government as a 'new model' URC in 2005 when it had a business case to achieve [pounds sterling]550 million of private investment and create 10,000 jobs by 2020. Three years on the stakes have been raised. Central Salford now has a business plan target of attracting [pounds sterling]4 billion of private investment and 30,000 jobs by 2020.

Against the backdrop of challenging market conditions this might seem ambitious but Central Salford's regeneration programme is underpinned by significant investment and more than half of the [pounds sterling]4 billion target has already been secured. For every [pounds sterling]1 of public sector money invested, Central Salford is levering in [pounds sterling]10 - [pounds sterling]11 of private investment. …

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