Greater Manchester, UK – 21 Nov, 2025  – Greater Manchester has announced an ambitious new plan to pioneer a model of economic growth designed to benefit all communities across the city region. Building on a decade of strong expansion, the strategy aims to secure sustainable, inclusive development through a £1 billion GM Good Growth Fund and a UK-first Integrated Pipeline of housing, employment, transport, and regeneration projects.

Over the past decade, Greater Manchester has become the fastest-growing part of the UK economy, supported by trailblazing devolution agreements and a high-performing regional centre. The region has delivered annual growth of 3.1%, more than double the national average. Oxford Economics recently described Greater Manchester as a “trailblazer for local devolution.” Analysis suggests that if similar growth is sustained for another decade, the regional economy could expand by more than a third, potentially contributing an additional £38 billion to national finances.

The new plan focuses on ensuring that the benefits of this growth are shared widely. Central to this vision is the £1 billion GM Good Growth Fund, designed to unlock private and public investment, accelerate development, and support long-term impact. The first wave of £400 million will be allocated to projects expected to deliver nearly 3,000 homes, more than 22,000 jobs, and 2 million square feet of new employment space. This initial investment is projected to unlock a further £1.3 billion in private capital.

The first wave of funding will target several priorities:

• Revitalising town centres with mixed-use neighbourhoods and refreshed community assets, including Oldham’s Prince’s Gate and Wigan’s Cotton Works.
• Expanding well-connected and affordable housing through schemes such as Victoria North and Salford’s Adelphi Village.
• Growing the region’s innovation district by supporting projects such as Mayfield, Sister, and the redevelopment of the former Kendals department store, alongside new lab space for high-growth sectors.
• Delivering development aligned with the Places for Everyone Plan and the Bee Network, enabling low-carbon communities linked by safe, affordable public transport.

The region has also deployed Mayoral Development Corporations (MDCs) to accelerate regeneration, with recent updates including a new MDC for Middleton and progress on Atom Valley, an advanced manufacturing and materials cluster expected to create up to 20,000 new jobs.

Greater Manchester leaders emphasised that the initiative represents a long-term shift in how development is delivered. The Good Growth Fund has the potential to support around 12,000 construction jobs, in addition to 10,134 roles at new employment sites. Revenues from new developments such as council tax and business rates will be reinvested into local communities, and loans repaid into the fund will be recycled to support future projects.

The GM Good Growth Fund brings together various funding sources, including an initial £300 million investment from the Greater Manchester Pension Fund (GMPF). A new strategic partnership between GMPF and the Greater Manchester Combined Authority aims to prioritise local investment and provide patient capital with long-term community impact.

Skills development and talent retention form a key component of the strategy. A new Regeneration Skills Academy will help develop local expertise, while a Developers’ Forum has been created to strengthen collaboration between public and private partners. From next year, Greater Manchester will also take a new approach to tackling empty homes by recruiting specialists to identify unused properties and support councils in repurposing them for families in need.

The plan is supported by Greater Manchester’s broader vision for a connected, resilient region. The Bee Network continues to expand, with the first of eight rail lines joining the system next year. Leaders argue that major investment in rail and road infrastructure is essential, noting that improved connectivity including proposals for a Liverpool–Manchester Railway could significantly boost regional and national economic output. Growth along the Liverpool–Manchester corridor currently generates £150 billion per year and could increase national economic output by £90 billion by 2040.

The announcement included key statements from regional leaders:

Andy Burnham, Mayor of Greater Manchester, said: “Greater Manchester is the UK’s economic success story of the past decade... Good growth is the defining challenge of our age – and today we are setting out a serious, practical plan to achieve it.”

Cllr Bev Craig, Leader of Manchester City Council, stated: “Our track record is something to be proud of, but behind the headlines our mission for growth is clear – it has to be with purpose, inclusive and create real opportunities.”

Paul Dennett, City Mayor of Salford, highlighted: “Housing is the cornerstone of a healthy, happy life, and must be at the heart of any serious plan to improve people’s lives and deliver good growth.”

Cllr David Molyneux, Leader of Wigan Council, said: “Our GM Good Growth Fund will unlock billions of pounds of other investment and drive good growth right across our city region.”

Cllr Eleanor Wills, Chair of the Greater Manchester Pension Fund, noted: “Greater Manchester is leading the way once again, becoming the first place in the country to pioneer this approach.”

The strategy aligns with the Greater Manchester Strategy, which outlines a shared vision for a thriving city region supported by both a Growth Plan and a People Plan. The overarching goal is to ensure every person and every place across Greater Manchester can contribute to and benefit from the next decade of good, inclusive growth.