The recent news that Manchester’s Airport City will be backed by global partners, including major Chinese investors, is a real boost to the North West as a whole and to the economy in north-east Cheshire. £800 million is being invested in what will be the UK’s largest regeneration programme since the Olympic Park. New hotels, warehouses and offices could create an additional 16,000 jobs in our region. Chinese investment will help forge stronger local links with the growth economies in the Far East.
Progress is also being made at AstraZeneca’s Alderley Park site. Following the decision earlier this year to relocate the company’s R&D functions, I have been an active member of the Task Force set up to develop a sustainable future for the site. A positive agenda is being established, with all parties including: AstraZeneca, Cheshire East Council, Manchester City Council, Manchester University and Tatton’s MP George Osborne working closely together. It is good to see new life science companies moving to the Bio Hub at Alderley Park in recent months, as options are developed for the future of the whole site.
Smaller businesses are also vital to our local economy. In and around Macclesfield, we are fortunate to have a strong entrepreneurial tradition. Just look at the difference small, vibrant businesses are making in Macclesfield’s “Castle Quarter” on Church Street.
I am campaigning for more support for small businesses, and first time employers in particular. That is why I welcome the introduction of the Employment Allowance in 2014; this will give businesses a £2,000 tax break, meaning that 450,000 businesses across the country will be taken out of paying Employer National Insurance Contributions altogether in 2014/15. 90 per cent of the associated benefits will go to small businesses with fewer than 50 employees.
I would like to thank the many local businesses that continue to play such an active role in our community through organisations like the Make It Macclesfield Forum and Poynton In Business, and that support so many local initiatives. These active and dynamic partnerships are vital in further strengthening our local economy.