32 cities bid to host Green Investment Bank (GIB)
Author: Jonathan Werran, The MJ |
Some 32 bids have been sent by councils and businesses across the UK expressing interest in housing the Green Investment Bank (GIB).
Locations, which produced self-assessment submissions to the Department for Business, Innovation and Skills (BIS) range from major cities such as Birmingham Cardiff and London, to rural county Cornwall down to small towns Bicester and Torbay.
Inward investment experts claim the volume of interest shown reflects the dearth of major opportunities at a time of financial austerity and restraints curtailing the relocation of central government functions to he regions.
Business secretary, Vince Cable, expressed his delight that the Green Investment Bank had ‘fired the imagination of so many public and private sector groups keen to host this world-first institution’.
‘They all have a role to play in helping the UK seize the benefits of a transition to a low carbon economy,’ added Dr Cable.
All submissions for hosting the bank ? which will be capitalised with 3bn funds to encourage private sector investment towards a green economy ? will be reviewed by a panel against a common set of criteria.
These are aimed to ensure cost-effectiveness, ability to recruit and retrain specialist staff and work with investment bodies, project developers and technology providers.
Recommendations will then be placed before Dr Cable who is likely to announce a final decision next month.
Locations which submitted bids to host the Green Investment Bank (GIB) are:
?Bicester
?Birmingham
?Brighton
?Bristol
?Cardiff
?Chester
?Cornwall
?Coventry and Warwickshire
?Derby
?Durham
?Edinburgh
?Gloucester
?Hull
?Ipswich
?Leeds
?Leicester
?Liverpool
?London
?Manchester
?Milton Keynes
?Newcastle
?Norwich
?Nottingham
?Peterborough
?Renfrewshire
?Sheffield
?Southampton
?Stoke-on-Trent
?Sunderland
?Tees Valley
?Torbay
?Warrington