Good growth in every postcode 21st August 2026

Andy Burnham’s pledge to the country is “good growth in every postcode and hope in every heart”. What would this look like in practice? The answer lies in the economic success stories of British companies across the UK and building on these successes across England, Scotland, Wales and Northern Ireland.

Each week during recess, Paul Dimoldenberg looks at economic news from across the country to identify what “good growth” looks like in a diverse set of local communities to deliver the much-needed economic growth to power the economy and deliver new jobs, increased wealth and additional tax revenues to pay for improved public services. This week we feature:

• £30m investment to create 150 Sheffield manufacturing jobs (S4)
• Edinburgh wave energy tech developer plans offshore data centres (EH9)
• New home for UK Biobank in Manchester (M15)
• Extreme environment centre plans for Exeter (EX5)
• Yorkshire mayors target health innovation investment (HD1)
• £3.3m investment to transform construction training in Accrington (BB5)
• Manufacturer of rare earth-free electric motors in Washington to accelerate development (NE38)

Sheffield: £30m investment to create 150 manufacturing jobs (S4)

Sheffield manufacturer Special Melted Products (SMP) aims to establish the UK’s first large-scale super alloy forging capability to reshore strategically important aerospace and defence manufacturing currently dominated by US suppliers. SMP currently generates around £100m in revenue and employs 260 people across two sites. The business is one of the few UK manufacturers to produce high-integrity alloys and components for critical applications in aerospace, energy and civil nuclear industries, with clients including Rolls-Royce.

Through Project Vulcan, the business plans to help establish UK capability in nickel-based super alloys used in the high-temperature sections of jet engines. SMP has secured a £28.5m working capital facility from Lloyds to support ongoing operating requirements. The bank has also provided £2.2m to acquire a 31,000 sq ft industrial building close to existing operations. With Project Vulcan currently in its build phase, SMP is targeting full operation by 2031. Over time, SMP plans to develop the building into further processing or production capacity, including potential additional melt or manufacturing operations, with a new R&D facility also planned.

Edinburgh: Wave energy tech developer plans offshore data centres (EH9)

Mocean Energy, an Edinburgh-based wave power developer, has entered the AI infrastructure market with Blue Core – an offshore data centre concept designed to generate its own electricity and reduce the cost of energy that data centres require. Global demand for AI-optimised computing is set to quadruple over the next decade, with AI data centres projected to consume 1,200 TWh a year by 2035 – roughly four times the UK’s total annual electricity consumption. Each unit combines wave energy, offshore solar and battery storage to power on-board AI server racks. Cooling, which typically consumes 15 per cent to 35 per cent of an onshore data centre’s energy budget, is expected to account for around 5 per cent at sea, using a closed-loop system that exchanges heat with the ocean.

Blue Core builds on Blue Star, Mocean’s existing offshore power system, which has completed 18 months of testing in harsh sea conditions and is expected to deliver its first offshore demonstrator and begin early commercial deployments from 2030, working towards a ten-year target of 6GW – roughly 2 per cent of projected AI data centre demand. Once a unit is built, its power is effectively free for the life of the asset, and Mocean estimates the approach could save around 13m tonnes of CO2 a year by 2035. 

Manchester: New home for UK Biobank in Manchester (M15)

Bruntwood SciTech has completed Greenheys, a £60m laboratory and workspace development in Manchester, designed to support cutting-edge science, technology and innovation businesses, with UK Biobank set to move half of its 400-strong team to the site. Greenheys is part of Bruntwood SciTech’s strategic infrastructure across Manchester’s Oxford Road Corridor Knowledge Quarter, which includes Manchester Science Park, the Citylabs campus and Circle Square.

The company, a joint venture between Bruntwood, L&G and Greater Manchester Pension Fund, has developed the new 131,000 sq ft of laboratory and write-up space to centre on flexible Containment Level 2 labs. These spaces offer dedicated fume extraction units, high-spec LEV capacity and advanced air handling designed to facilitate the most sophisticated analytical and research work. Greenheys will provide UK Biobank, a major source of biological, health and lifestyle information, with a new headquarters and research facility. The organisation is currently preparing to relocate 11 million biological samples from its ultra-low temperature automated storage in Stockport to Greenheys.

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Exeter: Extreme environment centre plans (EX5)

A £150 million extreme environment centre planned for Exeter Science Park is forecast to generate more than £270 million of direct economic impact for the region – increasing to more than £500 million when wider supply chain benefits are included.

The nationally significant facility, which will be of strategic importance to the UK’s future resilience, security and economic growth, is being developed by NauteXe Global. It will feature a research and development test tank, measuring 60 metres by 40 metres, with depths of up to 30 metres.

The NauteXe Extreme Environment Centre (NEEC) will serve organisations that operate in complex and hazardous environments. It will allow operators to test their technologies in realistic simulated conditions – from the deep ocean floor to the harsh conditions of offshore wind installations and outer space – without the high cost, unpredictability and risk of live-environment trials. The test tank will be capable of simulating currents, waves and wind, and will support organisations across defence, offshore wind, subsea and space.

Yorkshire: Yorkshire mayors target health innovation investment (HD1)

Three Labour Yorkshire mayors have partnered with Health Innovation Yorkshire & Humber to champion the region as a destination for health and life sciences investment. West Yorkshire’s mayor Tracy Brabin, York and North Yorkshire’s mayor David Skaith and South Yorkshire’s mayor Oliver Coppard, together with Health Innovation Yorkshire & Humber, have produced a comprehensive overview of the infrastructure and assets supporting the development of health tech as part of a sector generating £5bn in annual turnover.

Yorkshire is home to more than 27,000 people working in biopharmaceuticals and medical technology, with more than 600 life sciences companies, including specialists in orthopaedics, diagnostics, digital health, precision manufacturing and child health technology. Twelve higher education institutions teach more than 196,000 students across the region, with 46 per cent of undergraduates studying science subjects and more than £150m in collaborative research funding. Total R&D expenditure in Yorkshire and the Humber reached £2.84bn in 2024 alone.

East Lancashire: £3.3m investment to transform construction training (BB5)

Accrington and Rossendale College has secured a £3.3m investment to transform construction training, enabling more local people to develop practical skills, after receiving £2.6m of Government funding alongside investment from the East Lancashire Learning Group.  The project will deliver a brand-new multi-skills construction training zone together with expanded workshops for plumbing, electrical installation, site joinery, carpentry and bench joinery.

Existing facilities will also be redesigned to provide larger, more flexible teaching spaces that reflect modern construction practices. Designed alongside more than ten construction employers, the project will ensure learners benefit from training that reflects the realities of today’s workplace.

Washington: Manufacturer of rare earth-free electric motors to accelerate development (NE38)

Advanced Electric Machines Group, a Washington-based manufacturer of rare-earth- and magnet-free electric motors has secured £16m of funding to support the expansion of its product portfolio and accelerate development of new electric propulsion technology.  Advanced Electric Machines Group (AEM) creates technology that is applicable to a wide range of applications, including passenger car, motorcycle, ATV, the full range of trucks, buses and construction machinery and into the marine sector. 

The company’s motors eliminate the need for permanent magnets and rare earth materials, including the replacement of copper windings with aluminium. The funding round was led by existing shareholders Barclays Climate Ventures, PXN Ventures, Northstar Ventures and the Low Carbon Innovation Fund, alongside participation from new investors. Their equity investment is complemented by loan support from Innovate UK, and allows for expansion of facilities, expertise and production capability in Washington, where the investment will support development of AEM’s next-generation high-torque motor platform, extending the company’s existing technology into more demanding commercial vehicle and industrial applications. 

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