The strategy sets out four key priorities the LEP believes will provide the drivers for growth and will ensure it is successful in its key mission of being a catalyst for economic growth in Hull and East Yorkshire, building a better quality of life for everyone who lives and works in the region through successful business-led initiatives and partnership working.
The four key priorities explored in the document are:
○ ‘Ensuring a Productive and Innovative Economy’ – growing the economy for all, which aims to stimulate business growth, increase productivity and employment by developing the conditions in the HEY LEP region for business to start ups, innovation, investment and trade.
○ ‘Clean Growth Economy’ - to maximise opportunities to drive economic growth in all the region’s green industries, whilst meeting targets to be a net zero carbon industrial cluster by 2040.
○ ‘Skilled and Inclusive Economy’ - to deliver a highly skilled, healthy and productive workforce, reducing inequality and increasing life chances for all in our communities.
○ ‘Competitive and Resilient Locations’ across our Hull and East Yorkshire region by enhancing the region’s infrastructure and natural assets to maximise their contribution to the HEY LEP economy and generate competitive locations to invest, live and visit.
This evidence-based strategy aligns with the economic strategies set out by both Hull City Council and East Riding of Yorkshire Council and proposes a joint approach with organisations across the HEY region and beyond by bringing the objectives of the strategy to life by working in partnerships with the LEP acting as convener and facilitator and providing access to services, resources, and support.
The strategy comes at an important time for the HEY region with the private sector the vital element in driving an economic recovery following the economic impact of the recent Covid-19 pandemic lockdowns. It is, therefore, imperative that the region’s business and other important organisations in the region’s community have their say on these plans.
James Newman, Chair of HEY LEP, said: “Whilst this Strategy may appear ambitious, we are clear that the goals we have set out are achievable. They have been built on a solid evidence base and are designed to ensure they benefit all communities in our region.
“As a new LEP, we have achieved a lot in our first six months and with the support of the experienced and knowledgeable Board and sub-Boards, the LEP can lead the implementation and delivery of this strategy, which will have a powerful impact on the economic direction of the region.
“We are fully committed to ensuring that this strategy accurately reflects the knowledge, ambition and values of businesses and economic stakeholders in the Hull and East Yorkshire region, which is why it is imperative for local businesses and other organisations to engage with us and provide us feedback on the plans we have set out.”