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Theresa May sets out £556m Northern Powerhouse plans

A range of projects are set to receive funding as prime minister Theresa May set out where £556m of funding would be spent within the Northern Powerhouse as she unveiled the government’s Industrial Strategy today.

The government said cash would be injected into projects across the North of England, including the Goole Intermodal Terminal and a conference centre and hotel scheme in Blackpool.

Investment will also be earmarked for new flood resilience infrastructure and the creation of a manufacturing park in Sunderland and South Tyneside.

The £556m - announced in the Autumn Statement - will be distributed to the 11 Local Enterprise Partnerships within the Northern Powerhouse region.

The Midlands Engine will also be covered in today’s announcement. 

The government said it would discuss initiatives in the region including investment in skills and the development of major infrastructure projects and upgrades such as the Midlands Rail Hub.

Ten areas have been identified in the Modern Industrial Strategy green paper to guide the government’s approach.

These include developing skills, upgrading infrastructure, improving procurement and delivering affordable energy.

According to the Department for Business, Energy and Industrial Strategy, a new “sector deals” initiative is “at the heart of the strategy green paper”.

Businesses will be able to receive support from the government to address industry-specific issues if they collaborate and present these issues to the government as a sector.

The automotive and aerospace industries were cited as sectors that are already using this approach.

Work on early sector deals has started for the life sciences, automotive, digital, nuclear and creative industries.

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