Economic development

What is the UK Shared Prosperity Fund and how will it affect the East Riding?

The UK Shared Prosperity Fund (UKSPF) is a central pillar of the UK government’s Levelling Up agenda. The fund will invest in domestic priorities and target funding where it is needed most: building pride in place, supporting high quality skills training, supporting pay, employment and productivity growth and increasing life chances.

The UKSPF replaces the support that local authorities previously accessed through the European Structural and Investment Funds prior to the UK’s exit from the European Union.

How much has the East Riding been allocated from the UK Shared Prosperity Fund?

The East Riding of Yorkshire Council, as the lead local authority, has received an allocation of £10.4 million covering the period 2022-2025. We will be engaging with a wide range of local stakeholders from the private, public, community and voluntary sectors to seek input on how the funding should be spent and how they can support delivery over the next three years. The £10.4 million of UKSPF is provisionally allocated across the 3 year period as follows:

• £1,264,517 for 2022-2023
• £2,529,034 for 2023-2024
• £6,626,068 for 2024-2025

Where can I find out more information about the UKSPF? 

The full UKSPF prospectus can be found on the government’s website:

UKSPF Prospectus

What is the Multiply Fund?

Multiply is the first priority of the UK Shared Prosperity Fund (UKSPF). It aims to improve adult (those aged 19+) numeracy skills and, therefore, supports the Levelling Up mission to ensure that, by 2030, the number of people successfully completing high-quality skills training will have significantly increased in every area of the UK.

How much Multiply funding has the East Riding been allocated? 

The East Riding has provisionally been allocated a maximum £1,523,637.49 of Multiply funding over the next three academic years as follows:

• £460,634.59 for 2022-2023
• £531,501.45 for 2023-2024 
• £531,501.45 for 2024-2025

The Multiply prospectus can be found on the government’s website: 

Multiply Prospectus 

How will the Council access the UKSPF and Multiply funding allocations?

The UKPSF will predominantly provide revenue funding, with some allowance for a small amount of capital expenditure.  The Multiply Programme will provide revenue funding only.  

To access the UKSPF and Multiply funding allocations, the Council is being asked to complete investment plans, setting out how it intends to use and deliver the funding.  These plans will be developed in conjunction with local stakeholders through a combination of webinars and workshops and a consultative local partnership group will be established.  Local MPs will also be included as part of the consultation process.  Plans will then need to be signed off by both the Council and the Government to unlock the allocations.

The deadline for submitting the Multiply Investment Plan is 30 June 2022 and the deadline for submitting the UKSPF Investment Plan is 1 August 2022.  Government expects to start approving investment plans from October 2022 onwards.

How can I get involved in shaping how the UKSPF/Multiply funding will be spent in the East Riding? 

Local groups and organisations who are interested in helping to shape the investment plans for the UKSPF and Multiply are invited to attend a free webinar hosted by the council. The webinar will take place on Thursday, 26th May 2022, from 10:00 to 11:30. 

More information about the webinar is available on our Eventbrite page:

Webinar Eventbrite Page 

How can I sign up for the webinar? 

Please register for the webinar for free on Eventbrite: 

Webinar Eventbrite Page

A link and joining instructions for the webinar will be shared prior to 26 May for those who pre-register for the event.

Will the webinar be recorded?

The webinar will be recorded and a link to the recording will be placed on this web page shortly after the event:

Economic Development 

I have a project idea that supports the UKSPF/Multiply priorities locally. How can I submit this idea for consideration for the investment plan? 

Project proposals can be submitted through a project ideas form using the council’s grant management system, Flexi-Grant®. The deadline for submission of the Multiply project ideas form is 23:59 on Thursday 9 June 2022, whilst the deadline for the submission of the UKSPF project ideas form is 23:59 on Thursday 16 June. A link to the forms will be shared during the webinar on 26 May and will be added to this web page shortly after the event.

How do I get further information about the UKSPF and Multiply activities in the East Riding?

If you have any questions about the ongoing development of the investment plans, please contact us via email.

Email: economic.development@eastriding.gov.uk

What is the Economic Strategy?

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

The strategy is coming to the end of its 5-year term and is currently under review.

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 all parts of our area. A mid-term review was completed in January 2021 to reflect a new EU-UK relationship, Local Enterprise Partnership reform and the announcement of a broad package of complementary UK-wide funding to support economic development.

The strategy identifies four priorities to enable the East Riding to respond to the Government’s vision at a local level.

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 identified in the strategy are:

• Business growth: Support sector growth and bring forward and maintain an attractive portfolio of employment sites in combination with high-quality and effective business support services.
• 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    growing communities.
• Sustainable economy: Ensure greater cohesion and integration between our natural and economic asset base to contribute towards a more sustainable, low carbon economy.

East Riding Economic Strategy documents are available below:

East Riding Economic Strategy 2018-2022 (pdf 12.3mb)

East Riding Economic Strategy Year 1 Review 2018-2019 (pdf 4mb)

East Riding Economic Strategy Year 2 Review 2019-2020 (pdf 2mb)

East Riding Economic Strategy 2018-2022 Mid-Term Review 2021 (pdf 2.4mb)

What is the Local Economic Assessment (LEA)?

The Local Economic Assessment presents the latest information on the East Riding economy and its Functional Economic Areas (FEAs). Local economies do not adhere to administrative boundaries and so FEAs are useful in allowing the identification of key economic centres, the drivers for economic activity, and growth opportunities and/or challenges to be addressed.

The purpose of an economic assessment is to provide a robust evidence base that will underpin strategic planning, investment decisions, and delivery plans.

The economic assessment consists of the following sections:

• Population
• Economic Performance
• Place
• Businesses
• Labour Market
• Education and Skills
• Quality of Life
• Functional Economic Areas. 

The East Riding Local Economic Assessment 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 is a 'live' document hosted by 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. The assessment is divided into eight chapters with each addressing a different theme. 

These profiles can either be viewed online or downloaded as a PDF document and printed as required.

If you have any questions about the East Riding LEA, please contact us via email.

Email: economic.development@eastriding.gov.uk

What is the York, North Yorkshire, East Riding Local Enterprise Partnership (YNYER LEP) Future Towns Study?

The Regeneration and Funding team worked in partnership with the directors of development at the York, North Yorkshire, East Riding Local Enterprise Partnership (YNYER LEP – now dissolved) on a study of towns across the York North Yorkshire East Riding area. The first part of the study was undertaken by the Funding, Strategy and Programmes team in Economic Development and provided baseline economic and planning data and local area profiles for 42 towns across the study area. More detailed analysis was undertaken on a sample of 15 towns, and the Team also led on the evaluation of software packages which report on the general health of town centres and high streets. 

This led to the purchase of Local Data Online, from the Local Data Company, with 10 licences over the next 3 years being funded by the YNYER directors of development pooled budget. This provides a 6 monthly tracking service on premises occupancy and uses in town centres for all towns across the UK. Health checks using Local data Online were also provided for the 15 towns. 

The second part of the study was commissioned by YNYER LEP from Metro Dynamics, to report on the future of town centres and high streets across the LEP area. This required critical analysis of current economic conditions and how future trends might impact local communities, along with recommendations as to how to develop solutions for economic success in the future.

The study documents can be viewed and downloaded:

Stage 1A - Future Towns study (12mb) 

Stage 1B - Future Towns study (14mb)