Around 32,000 jobs to be created in £160m Greater Manchester 'Investment Zone'

Around 32,000 jobs are expected to be created in Greater Manchester as details of a £160m 'Investment Zone' have been announced. Public funding confirmed by Chancellor Jeremy Hunt in the autumn statement today (November 22) will be spent on the city-region's advanced manufacturing sector over the next 10 years, attract around £1.1bn of private sector investment to the city-region.

Earlier this year, Greater Manchester was named as one of 12 areas across country selected to become an 'Investment Zone'. At the time, the government said each area would get £80m of funding over five years to boost skills, infrastructure and business support.

But today, Mr Hunt announced that the funding would be extended to 10 years which means Greater Manchester will now get £160m. The funding will be used to support initiatives in the advanced materials and manufacturing sector as agreed with the government.

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The package will support schemes such as ID Manchester - a new £1.7bn innovation hub in the city centre for businesses and other organisations looking to advance research and development in digital tech, health innovation, biotech and advanced materials and manufacturing. The funding will also help build on the city-region's ambition to create 20,000 jobs and 7,000 homes at Atom Valley.

Spread across a 1.6m sqm site in Bury, Rochdale and Oldham, the Atom Valley project is being overseen by mayor Andy Burnham. He said: "The Investment Zone will help us attract investment and create jobs and opportunities that will benefit people across