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Economic development

Explains what the Economic Strategy is, what is the Local Economic Assessment (LEA), how often the LEA is updated, where to get other up to date information about the local economy and devolution.

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What is the Economic Strategy?

The Economic Strategy identifies the priorities for economic development within the East Riding.

The document was prepared by the council and is acting as a blueprint in guiding economic activity in the East Riding, with the aim of promoting growth and inclusion across all parts of our area. The Economic Strategy 2023-25 is an extension of the Economic Strategy 2018-2022 and sets out the East Riding’s plans to continue to raise productivity by helping businesses create higher-level jobs and increase the earning power of people with investment in skills, industries and infrastructure through to 2025.

This strategy extension reflects how the disruption and difficulties of the past few years have been addressed in order to maintain, if not boost, local economic performance. The strategy timeline is intended to align with the first phase of the UK Shared Prosperity Fund programme, which ends in March 2025, and with the forging of the proposed devolution deal.

It aims to build on the East Riding’s natural strengths, such as those in food, manufacturing and the renewable energy sector while continuing to address longstanding challenges in productivity, innovation, business growth, skills demand, and existing pockets of deprivation in urban, rural, and coastal areas.

The four priorities from the 2018-2022 strategy – business growth, lifelong learning, quality locations, and sustainable economy – have been retained as they remain relevant, promoting resilience and growth in our local economy.

  • Business Growth: Support sector growth, provide high quality business support services and maintain and further develop an attractive portfolio of employment sites in the area
  • Lifelong Learning: Equip people with the skills they need to progress in the labour market, engage those furthest from employment or education and deliver higher level skills to meet the demands of the local economy
  • Quality Locations: Develop a place-based approach to meet the housing, infrastructure, employment, and local service needs to create sustainable and inclusive communities
  • Sustainable Economy: Ensure greater cohesion and integration between our natural and economic assets to contribute towards a more sustainable, low carbon economy.

East Riding Economic Strategy document is available below:

East Riding Economic Strategy (pdf 18mb)

For more information, please contact the council's strategy and service development team at:

Email: economic.development@eastriding.gov.uk

What is the Local Economic Assessment (LEA)?

The Local Economic Assessment (LEA) presents the latest information on the local area’s economy. The purpose of the assessment is to provide a robust evidence base to underpin strategic planning, investment decisions and delivery plans, and to strengthen funding bids and applications.

The LEA is part of the package of intelligence that supports the Economic Strategy 2023-25 and the Hull and East Yorkshire (HEY) Economic Strategy Framework.

The LEA dashboard can be found on the East Riding Intelligence Hub website:

East Riding Intelligence Hub - LEA (external website)

How often will the LEA be updated?

The LEA sits on the East Riding Intelligence Hub website and is maintained on an ongoing basis to ensure that it provides the latest available information about the East Riding economy.

If you have any questions about the LEA dashboard, please contact us via email:

Email: economic.development@eastriding.gov.uk

Other economic development intelligence

East Riding’s Town Dashboard showcases a variety of economic information for the key towns within the local authority. The dashboard is updated quarterly and provides evidence that can be used to support project development and funding applications.

East Riding’s Skills Dashboard offers information on the most recent job postings within the local area. The dashboard is updated monthly and shows data on the average salary of jobs posted, the skills needed for local employment and other useful data relating to local skills.

East Riding’s Inclusive Growth Monitor (pdf) measures the relationship between poverty and growth. Inclusivity, prosperity, and sustainability are measured and ranked to monitor performance against other local authorities.

What is devolution?

In England, devolution is the transfer of powers and funding from national to local government. Devolution is important because it makes sure that decisions are made closer to the local people, communities and businesses they affect.

Hull and East Yorkshire have had a long-standing ambition to improve the economy for the area. Devolution provides the opportunity to build on a long and successful history of partnership working between Hull City Council and East Riding of Yorkshire Council to deliver a real step-change.

Hull and East Yorkshire Combined Authority

A devolution deal worth £400 million to create a Hull and East Yorkshire Mayoral Combined Authority (MCA), covering the geography of the two local authorities, was signed off by the Government on 19 September 2024.

The Hull and East Yorkshire MCA is a legally recognised, single body capable of applying for money and powers to support key priorities such as connectivity, productivity, inclusivity, and sustainability.

Please visit Hull and East Yorkshire Combined Authority for more information.

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