Learning from the DevoLab #2: How mayors can secure investment into regional economies

Economic development and regeneration are central objectives for all mayors across England. A core challenge they face is how to secure the necessary investment to stimulate growth across their regions.  

Mayors hold a range of devolved powers and budgets that they can use to attract private and institutional investment. They are also well-placed to convene, negotiate and influence on behalf of their regions, working in close partnership with other local leaders and central government.  

So how can mayors best use their powers and influence to secure investment? What innovations have been tried at the regional level to make progress? What have been the results of these interventions? And what lessons can mayors and strategic authorities learn from each other?  

To answer these questions, this policy briefing presents three case studies – from the West Midlands, Greater Manchester and the North East – of how devolved powers have been used secure investment into regional economies.  

The paper draws on presentations delivered at an October 2025 event in Birmingham, hosted by the Institute for Government, in partnership with L&G.

This publication forms part of the IfG DevoLab, an Institute for Government platform dedicated to exploring and learning from the policy and governance innovations that devolution enables. 

Watch IfG DevoLab #2 on investment