The Materials Processing Institute has given its support to the Northern Powerhouse Partnership’s new report, ‘Powerhouse 2050: The North’s Routemap for Productivity’.
The partnership has consulted Northern businesses and organisations, including the Materials Processing Institute, for its work and support of SMEs, to set out fully-costed, evidence based proposals covering four sectors of the North. With the correct government investment and support, the report suggests that the sectors could stand as increase productivity and “rival the best countries and regions in the world".
According to the report, this can be achieved through a £2bn investment to replace the entire natural gas supply in Leeds with hydrogen produced in the Tees Valley, £20m for three years to 1,000 companies in the North West for "industrial digitisation" and £20m in The Campus for Ageing and Vitality (CAV) in Newcastle to redevelop the site for academic, residential, industrial and commercial uses.
Chris McDonald, Chief Executive Officer of the Materials Processing Institute and recently-appointed Federation of Small Businesses Policy Chair for Innovation and Enterprise, said, “The new report produced by the Northern Powerhouse Partnership sets out clear strategies that with the support of the Government, and ambitious Northern business, will further the region’s productivity and ultimately boost growth in the North East.”
“The North East and the Tees Valley in particular has a strong supply chain made up of experienced and innovative SME businesses. These businesses serve the UK from this region and are of vital importance to the regional national economies.
“Through the Materials Processing Institute’s work with SME businesses from the area, we are confident that the Tees Valley can deliver on the report’s proposals.”