The Leeds City Region has submitted its formal bid to host the world’s first green investment bank.
The city region is one of around 20 areas bidding to host the bank, which will employ 50-75 people and invest £3bn in the renewable and low carbon sectors over the period to 2015.
If the Leeds City Region bid is successful, it will significantly endorse the region’s credentials as a leader in the green economy. The Leeds City Region is already the UK’s largest financial and business services sector outside London, and local firms have considerable expertise in advising and structuring green projects around the world.
Chair of the Leeds City Region local enterprise partnership (LEP), Neil McLean, said: “We firmly believe that there is no better location for the green investment bank than Leeds City Region. Ministers have already commended the strong business case we presented to them last year, so we look forward to them considering our self-assessment. The bank will be the first of its kind in the world, and its location will become a focus for investment, leadership and expertise in the green economy. This will clearly bring significant opportunities for low carbon businesses located in the city region and across Yorkshire.”
The Leeds City Region bid has strong cross-party support from Yorkshire MPs, and from the region’s business community. Around 1,000 businesses and individuals have publicly backed the bid through an online supporter’s list.
Julian Smith, MP for Skipton and Ripon said: “From the outset, the Leeds City Region has demonstrated energetic leadership from local politicians, businesses and green activists alike in its bid to win the green investment bank. The strength of our bid is testament to this collective hard work. The government is committed to getting the Green Investment Bank launched as soon as possible - this document shows how ready Yorkshire is to make it a success."
Greg Mulholland, MP for Leeds North West said: “The Leeds City Region has today presented the government with a very strong bid to host the green investment bank. Locating the bank here would be good news for the city region and good news for the UK - with our compelling mix of expertise in the financial and low carbon sector, commercial value and access to global markets, we’re in a strong position to give the bank the very best chance of success.”
The government announced the process for interested locations to submit a bid in December, with a closing date for submissions of 30 January 2012. A decision on the bank’s location is expected in February 2012.
Business and individuals can continue to support the Leeds City Region bid at www.greenbanklcr.org.uk