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1:16 pm, July 7, 2008
Group says TIF would bring £10bn to economy

By Simon Binns

Pro-TIF lobby group United City has backed claims that the proposed £2.7bn of investment in the region’s public transport system could be worth as much as £10bn to the Greater Manchester economy.

Professor Michael Luger, dean of Manchester Business School wrote in a recent opinion piece for Crain’s that the TIF bid was a “spending multiplier” and could generate as much as £10bn

Chris Oglesby, chief executive of Bruntwood and United City spokesman, said: “With any large financial investment it is important to be aware of the wider benefits to the local economy — be it a commercial property development or funding to improve public transport. We would agree that an investment of this magnitude would generate benefits for the region of approximately £10bn.

“At a time when economists and the public alike are watching our national economy nervously, we must grab this once-in-a-generation opportunity to secure the largest-ever investment in public transport in the UK outside of London — and all the additional benefits that would bring.”

United City members include high street chain Timpson, Sale Sharks owner Brian Kennedy’s Latium Group and property development companies Bruntwood, Ask Developments, Property Alliance and Urban Splash.

Comments? sbinns@crain.com

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