Pave our streets with gold

CRUCIAL plans: council leader Jim McMahon

OLDHAM faces a “crucial” day in its future as the borough’s regeneration plans are showcased in London.

Oldham Council leader Jim McMahon and town ambassadors will attempt to entice big spenders to invest in Oldham amid warnings from the councillor that, if action does not take place now, unemployment could rise significantly in the next five years.

International investors and big-money pension funds have confirmed their attendance at the National Theatre next Wednesday. Major plans to put Oldham on the map will be outlined, including the new cinema-led complex at the old Oldham Town Hall and the luxurious Hotel Future.

The council leader said: “Economists said 2,000 local jobs would go now in the recession and they were right.

“If we don’t do something dramatically different to what previous administrations have done, we can’t expect a different outcome.

“I don’t think Oldham has tipped so far it’s not beyond rescue. We held an Invest in Oldham at Gallery Oldham earlier this year and it was successful. The London one is a totally different market. It’s about multi-national investors, pension funds — people with big cheques to write, to put it bluntly.”

“If we are serious about creating 2,000 jobs in the next two years, which is our aim, then we need these people to invest and the funding to make it happen.”


COPIES of the Chronicle’s “Oldham on the Map” supplement (free in tonight’s print and eChron editions) will be distributed at the London meeting to help showcase the borough’s achievements and plans.