CITY chiefs are bidding to bring the Government’s Green Investment Bank to Chester.
The Green Investment Bank (GIB) is the world’s first investment bank dedicated to greening the economy and promoting economic growth for UK businesses at home and abroad.
Designed to accelerate private sector investment in the UK’s transition to a green economy, the bank will offer grants from more than £3 billion of funds before 2015 and create 50 to 70 jobs in the area.
Leader of the council, Cllr Mike Jones, said: “Chester is already a hotspot of knowledge and expertise in financial services, renewables and energy and has a skilled workforce that is ready to go.
“That, coupled with our plans for a Central Business District close to the railway station, means that we have a uniquely skilled and established infrastructure that matches the Department for Business, Innovation and Skills’ requirements for the GIB.
“With hourly services from the railway station to London we can bring the bank close to the financial world, while offering the great quality of life available in Cheshire.”
Building on the city’s track record in leading the way for financial service products and banks for over two decades, the council says it is now looking to local businesses to throw their support behind the project.
Executive member for prosperity, Cllr Herbert Manley, said: “We are looking for businesses across Cheshire to endorse our plans to bring the Green Investment Bank to Chester.
“Bringing the GIB to Chester could have a tremendous impact on local businesses, giving them access to supply chains, helping to grow businesses within the financial and environmental areas and increasing access to specialist skilled staff.
“This is about putting Chester on the map in terms of financial and environmental services and many established and new local businesses looking to move into these sectors could benefit greatly from having the largest grant funding available on our doorstep.”
The first priority sectors for the Bank, subject to approval by the European Commission, would include offshore wind power generation, commercial and industrial waste processing and recycling and energy from waste generation.
The Government’s Property Unit will draw a short list in February followed by location visits with a final location decision expected April 2012.