Peel submits Atlantic Gateway LEP bid
Peel has put forward a proposal to the Government for a Local Enterprise Partnership plan based on its £50bn Atlantic Gateway project.
The Atlantic Gateway scheme is Peel's long-term framework to develop land along the Mersey and the Manchester Ship Canal.
In a statement released today, Peel said: "The Peel Group has responded to the Department for Communities and Local Government's request for proposals for Local Enterprise Partnerships.
"Peel has based its submission on the existing Atlantic Gateway Framework which had the support of local authority partners and key stakeholders and is included in the Future North West document.
"Peel has a number of key infrastructure projects at various stages of development. In order to deliver the full employment and regenerative value of these projects they need the support of a broad regeneration policy. As this no longer exists with the abolition of the Regional Strategy, it is therefore very important that the Atlantic Gateway concept is adopted and considered nationally as a key policy to address economic growth outside of the South East. A substantial cross boundary economic policy is required to help encourage new business investment in the North from international investors as well as indigenous investors such as the Peel Group.
"Peel's submission to HM Government explains that a specialist LEP, driven by the private sector can deliver £75bn net additional GVA and over 130,000 net additional jobs.
"Peel also consider that some key sectors of the economy need to be considered at the Atlantic Gateway scale, these include utilities, logistics, waste, energy and green infrastructure.
"The Peel submission also describes a 1% levy on Atlantic Gateway developments to help fund a community environment fund to support locally based environmental projects that help improve and engage communities.
"Peel look forward to developing these ideas with partners and Government through the forthcoming months."
As the major land owner, Peel has driven the Atlantic Gateway strategy which the North West Development Agency supported and managed to secure an agreement in March this year between Greater Manchester and Merseyside authorities to back the framework.
However, Sir Howard Bernstein, chief executive of Manchester City Council, has criticised the strategy and its concept.
The Coalition Government announced its intention to create LEPs to replace Regional Development Agencies in 2012 which will be business led with a focus on transforming the economy.
All bids have to be submitted by Monday 6 September.