IoD announces blueprint for Northern Powerhouse investment

The Institute of Directors has announced its blueprint for a business-led initiative to drive the next stage of the Northern Powerhouse.

In a joint statement, Jonathan Oxley, Mike Perls and Graham Robb, the chairs of the IoD in the Yorkshire and the Humber, the North West and North East respectively, have urged businesses to become 'heroes' of the Powerhouse.

In a joint statement, they said: “In the current climate of political change the IoD is sending out a signal that business not only wants to see action to rebalance the economy but is willing to play its part.

“We need to move away from a geographically competitive environment between cities and regions to a more collaborative, cluster-led approach. We will act as a catalyst for business-led, cluster-specific missions led by inspirational leaders.

“In the coming months we will be announcing specific, cluster-based activity and calling on business leaders to take part and set the direction that our new Government should follow.”

Each industry cluster will be led by individuals with a proven track record of working with education providers and international partners. Each cluster leader will have set objectives and a timetable to deliver them. The other sectors completing the IoD Powerhouse strategy are: life sciences, nuclear, renewables, e-commerce, artificial intelligence, digital healthcare and financial and professional services.