Northern tech sectors to receive billion-pound boost

The Chancellor has announced a £1.7bn investment package that will go towards scaling the tech and industrial strengths of various cities in northern England.

Part of a larger previously announced £2.3bn industrial investment package, the new funding will in part support the digital and technology sectors in cities like Manchester and Liverpool, as well the defence industry in South Yorkshire.

Manchester will see hundreds of millions of pounds put towards a new digital campus that the government claims will house almost 9,000 jobs.

The Manchester Digital Campus will act as a centre for the local North West government operations tasked with “solidifying Manchester’s status as a digital hub”.

In the Liverpool City Region and wider North West, the government intends to establish a global hub for quantum tech firms with a £51m capital injection, while £50m has been earmarked for the South Yorkshire defence industry.

“For too long the North has been sidelined, denied investment and had its potential held back,” said Chancellor Rachel Reeves.

“Backing its industrial strengths like Manchester’s thriving digital sector and Sheffield’s cutting-edge defence manufacturing will boost the region’s economy and place it at the centre of our national growth.

“In a changing world we have the right economic plan: stability, investment and reform to build a stronger more secure economy.”

The package also includes a £150m investment from the British Business Bank that will go towards high-potential companies in northern clusters.

“By backing the North’s industrial strengths the chancellor is getting behind our plans to re-industrialise the birthplace of the Industrial Revolution,” said Mayor of Manchester Andy Burnham.

“Manchester city centre is home to our thriving digital, cyber and AI cluster, with one of Europe’s fastest growing digital and tech economies and the largest AI sector by headcount outside London.

“The Manchester Digital Campus will put us among the world’s top tier of tech cities, creating high-value jobs for our residents and opportunities for our businesses.”

The post Northern tech sectors to receive billion-pound boost appeared first on UKTN.