Greater Manchester Combined Authority (GMCA) has announced that it is setting out a ‘game-changing’ plan to pioneer a new model of economic growth for every district in the city region. A recent report from Oxford Economics praised Greater Manchester’s growth journey, calling the region a “trailblazer for local devolution.” Now, a £1 billion GM Good Growth Fund, the first of its kind in the UK, is being launched and will include more than 30 projects across the city region.
In a speech in Stockport today (Thursday 20 November) for the Good Growth Foundation, Mayor Andy Burnham will unveil plans to allocate £400 million to a first wave of projects, set to deliver nearly 3,000 homes, more than 22,000 jobs, and 2 million square feet of employment space. According to GMCA, the initial investment is set to unlock a further £1.3 billion in private capital, helping get new development off the ground, creating new opportunities for everyone across Greater Manchester, and cementing this region as the best place to invest in the UK.
The £1 billion ‘GM Good Growth Fund’ is said to have the potential to create around 12,000 jobs in construction alone, with another 10,134 jobs at the new employment sites as the GMCA’s Integrated Pipeline builds. The city region’s leaders are expected to approve this first wave of funding allocations at next Friday’s meeting of Greater Manchester Combined Authority (GMCA), with the second wave of project funding to be announced in March.
Some of the projects which will be part of the first wave of funding in the GM Good Growth Fund include revitalising town centres such as Oldham’s flagship Prince’s Gate development and Wigan’s Cotton Works. The first wave will also include funding for housing schemes like Victoria North and the redevelopment of the former Kendals department store in Manchester.
“Greater Manchester is the UK’s economic success story of the past decade.”
Mayor of Greater Manchester Andy Burnham said: “Greater Manchester is the UK’s economic success story of the past decade. Powered by devolution, our journey of growth has transformed our city region and is opening up opportunities that people could not have imagined 30 years ago.
“But we know that the real test of good growth is whether every person and every place feels the benefits. We’ve never believed in a busted ‘trickle-down’ theory that puts the pursuit of pure economic growth above the basic needs of our communities. And growth in Greater Manchester has never been an end in itself – it’s a means of improving lives by creating new opportunities and broadening access to them.
“We know we will only change the fortunes of our people and places by getting on with fixing the things national politics has neglected. That’s why we’ve used our trailblazing devolution deals to put public services back in service of the public, becoming the first region in 40 years to bring buses under local control.
“And it’s why Greater Manchester is ready to pioneer a new model for economic growth – unlocking investment to build new homes, create good jobs, deliver infrastructure, and providing the everyday support that will enable everyone to live a good life. Good growth is the defining challenge of our age – and today we are setting out a serious, practical plan to achieve it.”
Full list of projects that are part of the GM Good Growth Fund:
Oldham
£31.5m is due to be committed in November 2025.
- Working with a developer to build 331 new homes next to Oldham Mumps station, 75 of which will be social housing. This ‘Prince’s Gate’ scheme is part of a bigger plan to build a total of 2,000 new homes across Oldham town centre over the next decade.
Other Oldham priority schemes in the integrated pipeline:
- Plans for a ‘Sports Town’ Mayoral Development Corporation in partnership with Oldham Athletic AFC. This would create a centre of excellence for sport, health, education and community facilities, including a new state-of-the-art 3G pitch at the former “Little Wembley” training ground, a potential 3,000-seat netball stadium, and a top-floor renovation of the Joe Royle Stand into an education facility.
- Creating the UK’s biggest urban farm and eco-park at Northern Roots (743,210m2/74.3 hectares), across 160 acres of green space outside the town centre.
Trafford
£26m due to be committed in November 2025:
- Providing key funding to unlock 382 new homes as part of the Trafford Wharf development – the first major investment in the Old Trafford Regeneration area.
March 2026:
- Redeveloping the old Stretford Mall into 427 new homes, of which 178 will be affordable, next to the newly reopened high street and town square in Stretford town centre.
Other Trafford priority schemes in the integrated pipeline:
- Driving forward the Old Trafford Regeneration project – creating a new leisure and business destination and 15,000 new homes around a new 100,000-seat football stadium.
Bury
£6.8m due to be committed in November 2025:
- Revitalising Prestwich village centre: redeveloping the Longfield Centre site by demolishing unused buildings, creating a new Market Hall and retail spaces, supporting the development of a new multistorey travel hub
March 2026:
- Working towards delivery of 235 new homes at Prestwich Village
Other Bury priority schemes in the integrated pipeline:
- Unlocking the Northern Gateway employment site – one of the three key sites within Atom Valley – by supporting development of plans for a new road link.
- Developing Bury Interchange into an integrated transport hub joining up bus, tram and active travel, with the ambition for it to be the first operationally carbon-neutral transport interchange in Greater Manchester.
Bolton
£17.1m due to be committed November 2025 (Wingates):
- Creating a Mayoral Development Corporation to drive forward growth in Bolton Town centre creating new jobs, new homes and supporting the ambitions for the NorthFold Growth Location work between Wigan and Bolton – including a new 800,000 sq. ft logistics hub at Wingates with potential to create 6,900 jobs
Other Bolton priority schemes in the integrated pipeline:
- Supporting work to progress the demolition of Crompton Place Shopping Centre and replacing it with new housing, office space and a hotel in the town centre as part of plans to regenerate the town centre
- Driving forward plans for the Lee Hall development, which will deliver 450 new homes, 157 of which will be affordable housing, linked to wider plans to develop Hulton Park.
Manchester
Due to be committed in November 2025:
- £20m to expand global innovation hub, Sister, by investing in the redevelopment of former University of Manchester buildings to create new office and lab space for advanced manufacturing and materials, life sciences, low carbon and green technology and the digital and technology sectors.
- £44m to refurbish the old Kendals department store on Deansgate for new office space in the city centre.
- £34.1m to progress delivery of Victoria North, which will see up to 15,000 new homes built between Victoria train station and Queen’s Park in Collyhurst as part of a development shortlisted for the Government’s New Towns programme.
March 2026:
- Supporting plans for the regeneration of Wythenshawe town centre, including plans for 423 new homes for social rent of which 109 will be ‘extra care’ flats for supported living.
Rochdale
March 2026:
- Supporting the council’s plans for more than 200 new homes next to Rochdale railway station as part of the Station Gardens project within the wider Rochdale Rail Corridor vision.
Other Rochdale priority schemes in the integrated pipeline:
- Working with the Rochdale Development Agency and The University of Manchester to realise the potential of the Sustainable Materials and Manufacturing Centre – a key catalyst in the wider Atom Valley vision for an advanced materials and manufacturing supercluster.
- Developing plans to expand Metrolink to connect Oldham, Rochdale, Middleton, Heywood, and Bury through tram-train services, enhancing transport connectivity within Atom Valley.
Tameside
£7.6m due to be committed in November 2025:
- Exploring plans for redevelopment in Ashton town centre to deliver new affordable homes, employment space, and breathe new life into Market Square and the outdoor markets
Other Tameside priority schemes in the integrated pipeline:
- Working with Tameside Council and development partners to bring forward plans for up to 2,150 new homes at Godley Green – including more than 300 affordable homes.
- Tameside Council to map out a vision for the future of Ashton and Stalybridge town centres, and the corridor linking the two.
Salford
£23.4m due to be committed in November 2025:
- Giving funding to the redevelopment scheme at Adelphi Village, delivering homes of different types and tenures – including 301 homes for social and affordable rent and 42 new townhouses. The scheme is already set to deliver 336 new apartments across two new buildings.
Other Salford priority schemes in the integrated pipeline:
- Using the Industrial Strategy Zone funding to support the Salford Crescent redevelopment masterplan – a £2.5bn regeneration partnership between Salford City Council, the University of Salford, and the English Cities Fund – including new multi-modal transport links through the Bee Network.
- Supporting the development of a new Acoustic Innovation Institute as part of the Salford Crescent innovation district – a new state-of-the-art hub for world-leading research, teaching, and business development.
Stockport
Due to be committed in November 2025:
- £41.3m to provide funding to unlock the Stockport 8 development – a new walkable and sustainable neighbourhood in the town centre with 1,300 energy-efficient homes, delivering 435 new homes in the first phase, including 82 for affordable rent.
- £15m to support the development of 245 new homes on a derelict office block and car park site on Fletcher Street in Stockport town centre. The age-inclusive homes, set within an environmentally sustainable building, will meet the Lifetime Homes standard, ensuring they are accessible, convenient and adaptable for all stages of life.
Other Stockport priority schemes in the integrated pipeline:
- Building on the success of the Stockport MDC by expanding it to incorporate the entire town centre, delivering 4,000 new homes – 8,000 in total – a new school and health, a riverside park and improved transport links.
Wigan
Due to be committed in November 2025:
- £14m supporting the Cotton Works redevelopment of the Grade II-listed Eckersley Mill complex at Wigan Pier, including the building of almost 180 new homes.
- £9.9m delivering 93,500 square feet of commercial, office, leisure, and healthcare space through the Cotton Works redevelopment scheme – expected to create around 670 new jobs.
Other Wigan priority schemes in the integrated pipeline:
- Backing a new Mayoral Development Zone for Leigh and the surrounding area – bringing together partners to drive forward a vision for redevelopment that would include a new University Campus for Health and Social Care.
You can find out more about the GM Good Growth Fund here.
