Investment Attraction
Invest in Manchester
Full Credential Description
The Old Trafford Regeneration Task Force has identified a significant opportunity to replace the existing Old Trafford stadium with a new 100,000-seater venue, which could inject £7 billion into the UK economy and create up to 90,000 local jobs. This initiative aims to revitalize the surrounding area, transforming it into a hub for sports, entertainment, business, and education. The Task Force's feasibility study, which included surveying over 50,000 Manchester United fans and consulting with local residents, revealed that more than 90% of supporters are in favor of a world-class stadium, with 52% preferring a new build over the redevelopment of the existing structure.
The proposed redevelopment could increase the current stadium's capacity to 87,000, while a new stadium would allow for a capacity of 100,000. The consultation process indicated that over 60% of 1,000 surveyed residents believe the project would positively impact the area. The Task Force is also exploring the establishment of a Mayoral Development Corporation (MDC) to facilitate large-scale development and infrastructure improvements, which would support the ambitious regeneration project aligned with Greater Manchester's growth objectives.
Key stakeholders, including Lord Sebastian Coe and Mayor Andy Burnham, emphasized the project's potential to drive urban regeneration, likening it to the transformative impact of the London 2012 Olympics. The initiative is expected to not only benefit Greater Manchester but also enhance the broader North West region by revitalizing underused industrial land and improving rail network capacity. The long-term vision includes creating new jobs, homes, and green spaces, ultimately delivering significant economic and social growth for Trafford and its surrounding areas.