York and North Yorkshire Combined Authority’s members have approved £5.4million of funding from the Local Growth Fund to support the delivery of the region’s growth ambitions.
At a Cabinet Meeting on Thursday, members gave the green light for the Combined Authority to strategically target funding in business support, skills, and residential and commercial development.
Approved funding includes:
- £3.5million allocated to support priority sectors in the Local Growth Plan and strengthen business support within the region, creating better quality jobs.
- £1million to unlock residential and commercial development, accelerating opportunities for business growth and more affordable homes.
- £900,000 in addition to wider skills funding to help with the development of skilled workers, creating opportunities aligned to the region’s growth ambitions.
David Skaith, Mayor of York and North Yorkshire, said:
“We're turning the ambition in our Local Growth Plan into action for our county, its businesses and communities.
“This is what growth with purpose means, using our funding to support better wages, higher-quality jobs, and better, warmer, more affordable homes.
“With this funding secured, we will work hand-in-hand with our key partners to make it easier to invest in our county and ensure those benefits are shared.”
In the Chancellor’s Spending Review in June 2025, the government announced a new approach to regional investment that included the launch of a new Local Growth Fund. This supported the development of York and North Yorkshire’s Local Growth Plan which was approved in July 2025, and subsequent Local Growth Delivery Plan, approved this month.
York and North Yorkshire Combined Authority was awarded a £40million Local Growth Fund over a four-year period.