Economic development

What is the economic strategy?

The economic strategy identifies the priorities for economic development within the East Riding.

The document has been prepared by the Council and will act as a blueprint in guiding economic activity in the East Riding for the next four years, with the aim of promoting growth all parts of our area.

The Government launched a national industrial strategy in November 2017, outlining its vision to build a Britain for the future and capitalise on its strengths and advantages to improve productivity, innovation and create high-quality employment whilst working towards a low carbon economy.

The strategy identifies four priorities to enable the East Riding to respond to the Government’s vision at a local level and complement the ambitions of the Humber Local Enterprise Partnership and the York, North Yorkshire and East Riding Local Enterprise Partnership. 

It aims to build on the East Riding’s natural specialisms, 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.

The East Riding Economic Strategy is available to view below:

East Riding Economic Strategy 2018-2022 (pdf 12mb)

What research has been undertaken to understand the economy of the East Riding? 

The East Riding of Yorkshire Council regularly undertake a Local Economic Assessment (LEA) which draws together a wide range of economic information into one coherent evidence base, which is available to view on the East Riding Data Observatory website:

East Riding Data Observatory - LEA (external website)

As well as the LEA the East Riding and partners also undertake research from time to time in order to understand distinct elements of the East Riding’s economy.

The reports from recent research are attached below:

M62/A63 Corridor Transport Feasibility Study

This study has been commissioned by East Riding of Yorkshire Council and Hull City Council to examine the accessibility of strategic employment sites in the M62-A63 corridor. These sites are important in supporting the new sustainable energy allocations in the North Sea.

M62/A63 Corridor Transport Feasibility Study (pdf 2mb opens in new window)

Business Support beyond 2012 on the Humber North Bank

This study outlines what business support provision will be needed by businesses in the East Riding of Yorkshire and Hull City regions to take advantage of the emerging growth opportunities in the Humber region beyond 2011 and what current gaps are evident in this business support provision.  

Business Support Study (pdf 864kb opens in new window)

Progress in the Humber 2010 Statistical Update

This document provides a statistical overview of the Hull and Humber City Region.

Progress in the Humber Update (pdf 494kb opens in new window)

City Relationships - Economic linkages in Northern City Regions – Hull & Humber Ports

The City Relationships project was undertaken for The Northern Way and the Department for Communities and Local Government. Based on a review of academic literature and a series of case studies of northern city regions, the study developed a concept designed to improve understanding of relationships between places. This report concludes the findings for the Hull & Humber ports area.

City Relationships Study (pdf 1mb opens in new window)

What is the Local Economic Assessment (LEA)?

The Local Economic Assessment presents the latest information on the East Riding economy and it’s 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 & Skills
  
• Quality of Life
  
• Functional Economic Areas
  

The East Riding Local Economic Assessment can be found on the East Riding Data Observatory website:

East Riding Data Observatory - LEA (external website)

How often will the LEA be updated?

The LEA is a ‘live’ document hosted by the East Riding Data Observatory 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 into PDF document and printed as required.

How do I get further information about the LEA?

If you have any questions about the East Riding LEA, please contact us on (01482) 391619.

What are the Regeneration Strategy Schedules?

The Regeneration Strategy Schedules provide details of, and a rationale for regeneration activity in the East Riding.

Please see below to see a copy of the Regeneration Strategy Schedules.

Regeneration Strategy Schedules (pdf 1.9mb opens in new window)

What is the Regional Growth Fund?

The Regional Growth Fund (RGF) is a £1.4bn fund operating across England from 2011 to 2014. It supports projects and programmes that lever private sector investment creating economic growth and sustainable employment. It aims particularly to help those areas and communities currently dependent on the public sector to make the transition to sustainable private sector-led growth and prosperity.

A joint bid between East Riding of Yorkshire Council and Hull City Council was approved in round two of this fund to support the Enterprise Zone proposal in developing skills and supply chains for the renewable energy sector.

What is an Enterprise Zone?

The 2011 budget announced that government would establish 21 new Enterprise Zones in Local Enterprise Partnership (LEP) areas within England. Enterprise Zones are allocated areas designed to stimulate economic growth through simplified planning requirements, favourable tax allowances and discounted business rates. It is intended that these zones have the potential to develop innovative solutions to address the specific local economic challenges.

Are there any Enterprise Zones in the Humber?

On the 17 August 2011 it was confirmed that the Humber Local Enterprise Partnership's bid for an enterprise zone was approved by the government.  

The focus of this successful bid was upon the renewable energy sector and efforts to develop a nationally significant energy cluster on the Humber. 

The Humber LEP’s bid covers 375 hectares on three sites:  

• Green Port Hull (Alexandra Dock), Hull

• Queen Elizabeth Dock, Hull

• Able Marine Energy Park (southern part), North Lincolnshire

• A reserve site has been approved at Saltend, East Yorkshire

The Humber’s Enterprise Zone is the largest to be announced by the government to date, and more than double the size of the next biggest.

In response to announcement in October 2011 by BAE Systems regarding their site in Brough, 12 miles west of Hull city centre, The Chancellor of the Exchequer has invited the Humber Local Enterprise Partnership (LEP) to develop proposals for a second Enterprise Zone in the region.