Greater Manchester mayor Andy Burnham: “Our number one priority is to deliver a new decade of good growth that lifts all of our places, and the proud communities that call them home” (picture: Alamy)

GMCA said a new MDC in Oldham would “help turbocharge” the £70m SportsTown masterplan, and build on the regeneration of Oldham Town Centre.

The combined authority also said that in Tameside, an MDC for Ashton and Stalybridge would “create new national blueprint for transport-led regeneration”, delivering at least 3,000 new homes for the borough.

At the end of last year, the GMCA approved the first £400m investment from its £1bn Good Growth Fund. This first wave aims to deliver nearly 3,000 new homes.

Mayor Andy Burnham said Greater Manchester “has been the fastest growing economy in the UK” but that this growth “has not been felt equally in all parts” of the city region.

He added: “Our number one priority is to deliver a new decade of good growth that lifts all of our places, and the proud communities that call them home. 

“That’s why we’re backing Bolton, Oldham and Tameside with plans for new Mayoral Development Corporations – so they can remove barriers to development and bring forward new homes, jobs and community assets for generations to come.”

Nick Peel, leader of Bolton Council, said: “The ongoing regeneration of Bolton Town Centre has already delivered the Wellspring Innovation Hub, new urban neighbourhoods like Deansgate Gardens and Moor Lane, alongside vibrant public spaces and facilities like the Bolton Market Food Hall.

“As we look ahead to the flagship redevelopment of Crompton Place, a Mayoral Development Corporation will create even greater momentum behind the transformation of our town centre and the wider NorthFold growth location.

“This sends a clear message that Bolton is an essential partner in the Greater Manchester Strategy and the Good Growth Fund, as we work together to bring growth and opportunity to all parts of our city region.”

Arooj Shah, leader of Oldham Council, said the new MDC is a “massive opportunity for the people of Oldham” and will provide “the tools to unlock investment, speed up regeneration and deliver real change for our residents”.

She added: “In Oldham, that means turning plans like SportsTown, Northern Roots and our town centre regeneration into jobs, homes, better health and stronger life chances for local people.

“This is not regeneration for its own sake. It is about growth that works for our communities.”

Eleanor Wills, executive leader of Tameside Council, said: “An MDC would give us the confidence, certainty and the co-ordination to unlock the full potential of Ashton Moss, St Petersfield and Ashton town centre, bringing long‑lasting benefits for our communities.

“Additionally, accelerating the delivery of growth in Stalybridge and making better use of our existing assets will help unlock a national exemplar for transport‑led regeneration across both towns.”