The government said the scheme, which is backed by £80m of investment over five years in each of the new high-growth zones, is designed to accelerate research and development in the UK's 'most budding industries'.
Chancellor Jeremy Hunt will use his first budget to set out plans for 12 new investment zones to"supercharge" growth in hi-tech industries.
Each of the new investment zones will be clustered around a university or other research institution, the Treasury said, bringing growth to areas which have traditionally underperformed economically. Eight areas in England have been shortlisted: the East Midlands, Greater Manchester, Liverpool, the North East, South Yorkshire, the Tees Valley, the West Midlands and West Yorkshire.
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