Detailed plans for the economic future of York and North Yorkshire Combined Authority were unveiled today at an event for stakeholders and investors from across the UK.
Senior leaders from Government, private enterprise, academia and community organisations all joined the Ambition 2035 event at the Malmaison York.
They joined to learn more about the ways in which the city region and rural powerhouse is driving innovation and growth in industries that are critical to the UK’s future.
Speakers at the event included: David Skaith, Mayor of York and North Yorkshire; Joanna Crellin, Director General – Domestic & International Markets and exports at the Department for Business and Trade; and Charlie Jeffery, Vice Chancellor of the University of York.
David Skaith, Mayor of York and North Yorkshire, said:
“In York and North Yorkshire we’re ambitious for our people, our businesses and our communities. Today we set out what that ambition looks like, better wages, better quality work and better, warmer, and more affordable homes.
“We’re backing ambition for our people and our businesses. Improving productivity, making work fairer and giving people the skills businesses in our region need to grow. Backing our brilliant businesses and innovators creates jobs and opportunities for people of all ages in York and North Yorkshire.
“With the right ambition, we will grow with purpose. Making it easier for investors, innovators and ideas to commit with confidence and ensure those benefits are shared across communities.”
At Ambition 2035, the rationale for the York and North Yorkshire’s Local Growth Plan was revealed in full, detailing exactly what targets leaders within the region are setting for themselves.
Jennifer Wood, Chair of York and North Yorkshire’s Business Board, said:
“As a city region and a rural powerhouse, York and North Yorkshire is moving beyond the planning phase into a decade of delivery.
“The Business Board has worked hand-in-hand with the Mayor David Skaith to ensure our Growth Plan isn’t just a document, but a reflection of the expertise found within our 40,000 businesses.
“From our strengths in manufacturing and the visitor economy to our global edge in food and farming innovation, engineering biology, and clean energy, we are showcasing a region that is ready for serious investment.”
Five key ambitions were included within the Local Growth Plan to transform the region, each of which will contribute to the improvement in the region’s output and outlook.
They are:
- To be the most productive economy in the North of England, boosting productivity by 25%. This would be achieved by reaching an average productivity growth of 2.25% per year over 10 years.
- To increase regional GDP by 28%, adding £8.8bn to the UK economy – driven by a combination of higher productivity (output per hour worked) and a larger workforce (a greater number of hours worked).
- To increase average earnings by a third, and reduce the number of employee jobs paying below the real living wage
- To maintain high employment and get 20,000 more people into work.
- To build 60,000 new homes, with 25,000 affordable, over the next 10 years.
Andy Kerr, Director of Economy at York and North Yorkshire Combined Authority, said:
“For generations, York and North Yorkshire has been at the forefront of driving innovation and growth. We have a high performing economy with York recognised as the most productive city in the UK and our region being one of the most productive in the North.
“Although York and North Yorkshire Combined Authority is a brand-new organisation, we represent a region that is already driving growth for the UK in the North.
“Our Local Growth Plan has been developed with key stakeholders and complements a suite of strategic plans that have been developed to outline how we will achieve growth in our region.
“York and North Yorkshire has a plan on how to build more homes through our Strategic Place Partnership, an Adult Skills Strategy to match our highly skilled workforce with emerging opportunities, and a Local Visitor Economy Partnership to champion a sector that helps to attract 40 million visitors to the region each year.
“We have also adopted an Investment Framework, developed with KPMG and our Investor Forum. This will ensure we have a pipeline of investable propositions that are aligned directly to our strategic aims and are market facing and investment ready.
“We will continue to work with key stakeholders across the region and beyond to further develop our plans and deliver on our local growth ambitions.”
The regional Gross Domestic Product (GDP) of York and North Yorkshire – a measure of the size and output of the region’s economy – is £31.7bn.
Within the Local Growth Plan, YNYCA is setting a target to achieve an average sustained rate of 2.5% growth per year over 10 years (2024 – 2033). This will amount to a 28% increase, boosting GDP from £31.7bn to £40.5bn – an £8.8bn increase.
Reducing the number of people paid below the Real Living Wage by 20% would mean 11,000 additional employees would be paid above the Real Living Wage in the region.
The region’s new economic ambitions will be driven by growth with purpose – an inclusive principle ensuring that economic growth will not be pursued at any expense; the benefits must be distributed fairly and contribute to improving opportunities for all.
Ambition 2035 is part of a series of activities this year, funded from a £1m Combined Authority budget to boost international trade in the region. This budget has also helped create a new Invest York & North Yorkshire brand.
The Combined Authority will also have a dedicated pavilion at this year’s UKREIIF, and the Mayor will also join a Great North India Trade Mission later this year.