Question

To ask the Secretary of State for Business, Innovation and Skills, what investment in regeneration projects the Regeneration Investment Organisation has secured in the last six months.

Having built up a ‘shovel ready’ pipeline of 41 projects within 12 months, UK Trade and Investment’s Regeneration Investment Organisation (RIO) will shortly announce its first win for this financial year. RIO hopes to deliver two more project wins this financial year.

Beyond this, RIO’s £112bn long-term pipeline has the potential to create 640,000 jobs. 41 out of a total 180 projects have undergone technical investment evaluation and this number will soon rise to 100 verified projects. RIO has prioritised its overseas investors from 7 key markets and continues to support investment and supply chain development into ongoing projects such as Manchester Airport City and Battersea Power Station.