Business

Investment In The North East - Keep The Momentum Going

Issue 114

By Stephen Patterson, Chief Executive of NE1 Ltd, the Business Improvement District company for Newcastle city centre

We are in a celebratory mood. It’s been a great month for the North East’s transport network, with good news coming in thick and fast.

Kim McGuinness has given us £1.85 billion reasons to celebrate.

The North East was due some good news after a difficult period of traffic and transport chaos, caused by decades of underinvestment in the region’s infrastructure and neglect by central government.

Full credit to Kim McGuinness for securing the region’s share of the national pay-out and for championing the first Metro extension for over 30 years.

The Metro extension to Washington has been longawaited and will link tens of thousands of people to new job opportunities and economic growth.

At NE1, we are particularly delighted to see the Metro extension becoming a reality, as it was a key lobbying priority of our recent BID renewal campaign, based on the economic benefits it will deliver for the city and wider region.

Beyond the Metro, this funding is truly gamechanging for transport across the region. The North East has received the largest single pot of money for transport and infrastructure in its history, a milestone that cannot be overstated. The investment will support not only vital and long overdue road maintenance, but also the expansion of safer and more accessible walking and cycling routes. The funding will also deliver hundreds of new electric vehicle charging points, and improvements to bus priority measures, making bus journeys more reliable for passengers.

This is not just about transport, it is about making the region more connected, accessible, and ready for the future.

Securing the funding is monumental. It guarantees long-term investment in the North East’s transport and infrastructure network and will help build confidence in the region. It will be critical for driving regional growth and helping to attract further investment.

The dust had hardly settled on the news of the Metro expansion before we learnt that the final phase of funding for the Tyne Bridge restoration was also secured within the overall figure. We said earlier this year that it would be a spectacular own goal for the Government to renege on commitments to fund the final stage of the Tyne Bridge renovations. We can now celebrate that the funding has been secured. It is fabulous news for the city and the region. Everyone can now get on with the job of ensuring that the bridge looks amazing for its centenary celebrations in 2028.

Full credit once again to Kim McGuinness for securing the region’s share of the national transport pay-out and prioritising the restoration of the Tyne Bridge in the funding allocation. What a ringing endorsement for the role of regional mayor, someone who speaks with one voice for the whole region, who understands and champions regional priorities and links directly with the national Government. She has certainly delivered results.

From the Metro extension to the Tyne Bridge restoration and investment in active travel routes, the investment marks a turning point for North East transport and one that will build capacity and ambition along with it.

But we know infrastructure projects are not delivered overnight. They take time, patience, and planning. Having guaranteed funding in place allows local authorities, transport bodies and businesses to plan efficiently, and gives confidence to other investors that the region is committed to growth and transformation and has the wherewithal to deliver.

So yes, let’s celebrate and recognise what has been achieved and how far we’ve come. But this is no time for complacency, we also need to keep pushing. This is the start of something exciting for the North East, but not the end of the line.

www.newcastlene1ltd.com

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