European and UK business leaders back Northern Powerhouse plans

Speaking at this week’s UK Northern Powerhouse International Conference & Exhibition in Manchester, a panel of business leaders discussed the global economic potential of the North and voiced their support for the creation of a true powerhouse.

In their talks, the leaders agreed that while northern England has strong potential for inward investment, the region needs to develop its export market in order to unlock economic success.

Chaired by UK Trade & Investment CEO Dr Catherine Raines, the panel included Dr Herbert Jakoby, the CEO of NRW:Invest Düsseldorf, which is the economic development agency of North Rhine-Westphalia in Germany, and Niels Erik Andersen, the head of international office for Central Denmark Region.

Also on the panel was Dublin City Council’s director of the Office of Economy & International Relations, Peter Finnegan; Chris Corlett, chief executive of the Isle of Man Government’s Department of Economic Development; Ben De Smit, an economic and commercial counsellor with Flanders Investment & Trade; and William Nash III, a partner at law firm Squire Patton Boggs, which sponsored the event.

During the talks, Peter Finnegan said the region should consider what differentiates it for competing trade nations. For an example he referred to Dublin, where he believes resident diversity, creativity and culture all serve as important factors for investors.

Dr Catherine Raines explained that bringing together the North’s “sum of all parts” would greatly enhance its attractiveness to investors.

William Nash III argued that economic growth can be stimulated with strong, central leadership.

The UK Northern Powerhouse International Conference and Exhibition’s managing director, Keith Griffiths, said: “As of 2017, directly elected mayors will be awarded greater powers over areas such as housing, economic development, skills and inward investment, and billions of pounds will be invested in infrastructure to connect the 15m people of the North and help businesses grow.

“These policy changes [provide] a welcome focus on the economic potential of the great cities of the North, but it is ultimately up to the business community to deliver the thousands of jobs and attract the billions of pounds of investment.”

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