York and North Yorkshire Combined Authority has agreed a £500,000 allocation to drive forward growth plans.

The investment will support the Local Growth Plan for the region – a long-term economic strategy requested by Government but owned at a local level.

David Skaith, Mayor of York and North Yorkshire, said: “This investment helps us develop our Local Growth Plan. It will build-up evidence of where money can be spent in future, scoping out the best opportunities which will deliver against our priorities. When we submit this work to Government by Spring 2025, we will then be able to leverage further investment for the benefit of our region’s economy.”

Last month, the Combined Authority agreed five draft Strategic Growth Priorities to inform what will become the Local Growth Plan for the region. When completed in Spring 2025, the Local Growth Plan will be broadly shaped by two sets of growth priorities. One will link the potential for growth in York and North Yorkshire to Government priorities and the development of a national industrial strategy. A second set will link wider local priorities that will focus on the region’s core economic strengths, such as hospitality, high streets and the visitor economy.

The £500,000 allocation, taken from the Mayoral Investment Fund, will provide capacity to support business case development across each growth priority, including research and feasibility studies, ensuring plans meet required standards set by the Treasury.

Also at today’s (8) meeting of the Combined Authority, a budget allocation of circa £11.56 million for the devolved Adult Skills Fund was approved. This covers a first-year approach for the Adult Skills Fund and Free Courses for Jobs from August 2025 to July 2026.

As part of York and North Yorkshire’s devolution deal, the Combined Authority will be taking responsibility for the region’s Adult Skills Fund. The Adult Skills Fund, previously known as the Adult Education Budget, supports the delivery of education and training to people aged 19 and over. It aims to engage adults and provide them with the skills needed for entering and sustaining work, an apprenticeship / traineeship, or other further learning.

Published on Friday 8 November 2024