Ambitious five-year economic strategy drawn up for county

Plans to accelerate economic growth across North Yorkshire are part of a new strategy for the county.

North Yorkshire Council’s draft economic growth strategy is set to see the authority establishing a leading role in proposals to create a carbon negative economy, maximise investment and improve the quality of life for the county’s 615,000 residents and 32,000 businesses.

The five-year strategy includes plans to support business growth by building on existing sectors and increasing innovation and productivity.

It is also looking to equip town centres so they can thrive through the 21st century by investing in transport, housing, digital and energy infrastructure.

And the strategy is aimed at ensuring residents have the skills needed to meet these aspirations.

The draft plan sets a framework for detailed actions and investment plans with delivery both by the council and in partnership with other agencies.

Executive member for open to business, Councillor Derek Bastiman, said: “Our economic growth strategy is a key milestone for the council, marking an exciting new phase for our economy.

“We are set to take the lead on tackling some of the big economic challenges of our time and seek to maximise investment from the private sector, government and funding agencies.

“This strategy comes at a critical time for North Yorkshire, and one of the most exciting in its recent history. Having recently successfully completed the move to a single unitary, we have a once in a generation opportunity to embed a new approach to supporting economic growth in North Yorkshire.”

North Yorkshire Council and City of York Council have successfully secured a devolution deal with the Government, which subject to final approval by Parliament, will lead to the creation of a new York and North Yorkshire Combined Authority.

This is intended to drive regeneration and investment to the wider area.

Cllr Bastiman added: “North Yorkshire is a unique and special place. Its scale and industries make it integral to the North of England’s economic future, and its landscapes, culture and history make it a fantastic place to live, work and do business.”

He noted the county is home to an array of localised specialisms spanning financial and professional services, advanced manufacturing, logistics, digital and life sciences, as well as being an internationally-renowned visitor economy which in itself generates more than £1.5bn each year.

Members of the council’s executive will meet on 17 October when they will be asked to recommend to full council that the draft strategy is adopted.