Mayor announces £860m ‘New Deal’ for South Yorkshire

Mayor Dan Jarvis and local leaders are to approve a stimulus package, worth up to £860m, to revitalise South Yorkshire’s economy and transform the region.

The Mayor said he and local leaders were “rewriting the rule book” to meet the economic challenge posed by Covid-19.

The investment is designed to act as a “New Deal” for South Yorkshire, which will unleash the region’s potential, and deliver recovery and renewal for the region after the pandemic.

It will invest hundreds of millions into schemes to protect, create and attract thousands of jobs, train workers and apprentices, back businesses to locate and grow in the region, and transform infrastructure – building South Yorkshire’s transport network and revitalising its high streets and towns.

Jarvis said: “Extraordinary times call for extraordinary measures. Despite the challenges COVID throws at us, our plan sends a crystal-clear message of ambition and confidence: that South Yorkshire is open for business and ready to prosper.

“We’re rewriting the rule book, using powers and resources secured from Westminster, to invest in our people, our businesses and our towns and high streets.

“This is the power of devolution: it means we can deliver on the priorities of our people: jobs, apprenticeships, better buses, new flood defences, stronger transport links and revitalised high streets and town centres.

“We working to create a stronger, greener, fairer South Yorkshire for all – delivering not just recovery, but renewal. Not just a bigger economy, but a better one.

“We know South Yorkshire’s people and industry rightly have enormous pride in our story so far. We’re reinforcing our reputation as the heartland of British industry and innovation, and we’re making our region an even better place to live, work and invest.

“We’ve started to transform South Yorkshire and we believe that our best days lie ahead of us. That’s why we’re creating the South Yorkshire Renewal Fund – a comprehensive plan to unlock the potential of our people, businesses and places, so everyone can have a stake in our future prosperity.”

The South Yorkshire Renewal Fund will be considered for approval by the Sheffield City Region Mayoral Combined Authority at its meeting on Monday 22 March.

Dan Fell, Doncaster Chamber CEO said: “This is excellent news for our region. Despite the huge headwinds created by the impact of the coronavirus pandemic on our economy, our region can and will grow in the years ahead.

“In the short-term, it is necessary to plug gaps in Government support and to ensure that businesses who are struggling – through no fault of their own – are supported to survive and retain workers where possible.

“In the mid-term, investment in our infrastructure, skills system and the green economy will help the region better serve the needs of the private sector. To maximise the impact of the investment, I would urge our regions leaders to engage deeply and meaningfully with the region’s business communities to ensure that the needs of the private and third sectors are at the forefront of the decision making process.

“Perhaps most importantly, this ambitious announcement sends a clear signal that our region is open for business.”
:::

Dan Jarvis is set to be one of the speakers alongside fellow northern metro mayors, Andy Burnham, Ben Houchen and Jamie Driscoll, at Invest North on 24 March.

The virtual conference which has been curated by TheBusinessDesk.com alongside partners led by EY, Squire Patton Boggs, Influential, the Northern Powerhouse Partnership, and Impact Data Metrics. 

To check out the full line-up of speakers at this not to be missed event and book your ticket for the event that is setting the agenda for what comes next for the North visit investnorth.uk.