Utility companies ‘boost growth in the north,’ new reports finds

Northern Gas Networks, Northern Powergrid, Yorkshire Water and Northumbrian Water, which together make up Infrastructure North, launched a new report on Monday which shows they are driving forward economic regeneration through £2 billion per year.

The independent report undertaken by Edge Analytics shows that every £1 the four companies invest, a ripple effect of 87p additional spend in the region is created. This means that over the next five years, they’ll generate additional investment of £10 billion in the north.

Since the last report two years ago, the partnership have made a significant economic impact; there are 40% more businesses in their supply chain with 33% more of these within the northern region, 1000 more jobs have been created and the companies have committed to looking after communities; with 30,000 volunteering hours over the last year, 49,000 children reached through educational visits and 1m visitors to recreation sites.

Although each company in the partnership plays a different role, they all face the same future challenges. With the population set to increase by 770,000 people over the next 25 years, the partnership are securing a sustainable future by looking after the environment now and in the future; balancing the challenges of population growth, climate change and affordability keeping the customer at the heart of everything they do.

Commenting on the report, the Minister for the Northern Powerhouse James Wharton MP said “I’m very pleased to see collaboration – the key lifeblood of the Northern Powerhouse – between these companies to align plans for growth and invest in long-term solutions. I’d welcome further collaboration with other companies across the north to extend this good work.”

“I commend these companies for the way they are helping to sustain economic growth in the north, and improve the health and well-being of their regions. I am sure you will read the report with great interest.”