THE man behind an environmentally-friendly business park has lobbied the Government on the advantages of locating the new Green Investment Bank (GIB) in the North-East, pointing out its low-carbon credentials.
John Orchard, director of Marchday, which owns the 32-hectare Lingfield Point site in Darlington, has written to Justine Greening, the Economic Secretary to the Treasury, and submitted evidence to the Environmental Audit Committee, which has launched an inquiry into the establishment of the bank.
The bank will distribute Government funding to support private investment in low-carbon technologies. The North-East is already leading the way in renewables, becoming a world centre for electric vehicle and wind power development.
In his letter, Mr Orchard, whose company is converting the former Patons and Baldwins wool factory into a sustainable community, said: “The reasons for establishing the GIB in the Tees Valley are manifold and compelling. Everything that is needed to capitalise on the renewables industry is available in the North-East. All that is lacking is the investment.”
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