UK: Government Launches £700 Million Strategic Sites Accelerator to Crowd In £2 Billion of Private Investment
The UK government announced on November 2 the launch of the Strategic Sites Accelerator: a package of around £700 million, alongside expert support, will be deployed to unlock up to 10 major industrial and commercial sites across the UK, aiming to crowd in up to £2 billion in private investment over time and support tens of thousands of jobs. Mayors and local leaders will help identify opportunities, and No10 North will work alongside the programme.
Starting Monday, November 2, the Accelerator will focus on commercially viable sites with strong investor demand where government backing can overcome barriers including planning constraints, grid connections and access to finance. It will support sites through loans, equity and targeted grant funding as well as technical expertise. Bringing together the Office for Investment and the National Wealth Fund, with CBRE as National Delivery Partner, the programme is already engaging on potential sites in Glasgow, Burgess Hill and Sheffield, and is exploring opportunities in Greater Manchester, West Yorkshire, the West Midlands, South Yorkshire, the Liverpool City Region, the North East, the Glasgow City Region and the Cardiff Capital Region. It will be open to sites across every nation and region of the UK, from science parks and manufacturing sites to innovation districts.
Chancellor of the Exchequer John Healey said local leaders know their communities best, and that the £700 million package is helping break down the barriers to local growth. Business Secretary Jonathan Reynolds said the programme will get up to 10 of the UK's most important potential sites going, attract billions in investment and unlock tens of thousands of good-quality jobs in the years ahead.
The scheme marks a step in the government's Industrial Strategy, targeting high-growth sectors including advanced manufacturing, digital and tech, defence and life sciences; jobs in tech and digital in particular can attract salaries upwards of £45,000, above the UK national average. Government background notes put the public ambition at six to 10 sites, with individual investments subject to commercial assessment, due diligence and approvals. A further £285 million will support areas moving towards devolution deals or Strategic Authority status, including £120 million of capital funding to help places develop and deliver investment opportunities.
Source: GSM · USA (original Chinese edition)
Photo: 照片：英国 Sheffield 的特种钢厂，Graham Robson 摄，Wikimedia Commons，CC BY-SA 2.0 授权 / Photo: Special Steel Group Works in Sheffield, UK, by Graham Robson, Wikimedia Commons, CC BY-SA 2.0
