Region’s two bids for £3bn Green Bank host role

TWO bids to bolster Yorkshire’s status as a green energy pioneer by persuading the Government to base its new £3bn Green Investment Bank in the region have been handed to Ministers.

Officials from Leeds and Sheffield city regions handed over their bids ahead of last night’s deadline as about 20 towns and cities battle it out to host the new institution, which will fund renewable energy and low carbon projects.

The Leeds bid has won support from businesses and politicians across Yorkshire, and officials hope the large number of green energy projects in the region along with the city’s status as a financial centre will be a decisive factor when Ministers decide next month, while Sheffield claims its bid addresses all the questions asked by the Government.

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Neil McLean, chairman of the Leeds City Region local enterprise partnership (LEP), said: “We firmly believe that there is no better location for the green investment bank than Leeds City Region. Ministers have already commended the strong business case we presented to them last year, so we look forward to them considering our self‐assessment.

“The bank will be the first of its kind in the world, and its location will become a focus for investment, leadership and expertise in the green economy. This will clearly bring significant opportunities for low carbon businesses located in the city region and across Yorkshire.”

The Government has pledged £3bn for the bank until 2015, and Ministers hope it will lever in private investment to fund a revolution in green energy.

Yorkshire has already been at the forefront of green developments, including advanced plans for the region to trial new clean coal technology and manufacture turbines for offshore wind farms.

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At least 20 towns and cities – including London – had expressed an interest in hosting the institution, which will bring about 50 to 75 jobs, but it seen as an important symbol of the Government’s pledge to rebalance the economy.

Manchester, Bristol, Liverpool, Cardiff, Edinburgh, Nottingham and Newcastle are among the other cities bidding, and the Government will be under close scrutiny as to where it chooses to see how it matches rhetoric about tackling the North-South divide. Bringing the bank to the region is a demand of the Yorkshire Post’s Give us a Fair Deal campaign, which proposes policy measures to help the Yorkshire economy to prosper.

About 1,000 businesses and individuals have publicly backed the Leeds bid through an online supporter’s list, and officials hope its status as the UK’s second financial centre will be an advantage.

Julian Smith, Tory MP for Skipton and Ripon said: “From the outset, the Leeds City Region has demonstrated energetic leadership from local politicians, businesses and green activists alike in its bid to win the green investment bank.

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“The strength of our bid is testament to this collective hard work. The Government is committed to getting the Green Investment Bank launched as soon as possible –‐ this document shows how ready Yorkshire is to make it a success.”

Greg Mulholland, Liberal Democrat MP for Leeds North West said: “Locating the bank here would be good news for the city region and good news for the UK‐ with our compelling mix of expertise in the financial and low carbon sector, commercial value and access to global markets, we’re in a strong position to give the bank the very best chance of success.”

John Mothersole, Sheffield City Council’s chief executive, said: “Sheffield City Region has submitted its bid to (the Government) in our bid to bring the Green Investment Bank here. It is a strong self-assessment which directly addresses all the criteria.

“We are confident that with strong bids from Sheffield and Leeds, Yorkshire has two chances to win against a lot of competition elsewhere in the UK.”

Comment: Page10.