York and North Yorkshire Combined Authority's members have
approved £5.4million of funding from the Local Growth Fund to
support the delivery of the region's growth ambitions.
At a Cabinet Meeting on Thursday, members gave the green light
for the Combined Authority to strategically target funding in
business support, skills, and residential and commercial
development.
Approved funding includes:
- £3.5million allocated to support priority sectors in the
Local Growth Plan and strengthen business support within the
region, creating better quality jobs.
- £1million to unlock residential and commercial development,
accelerating opportunities for business growth and more
affordable homes.
- £900,000 in addition to wider skills funding to help with the
development of skilled workers, creating opportunities aligned to
the region's growth ambitions.
, Mayor of York and North
Yorkshire, said:
We're turning the ambition in our Local Growth Plan into action
for our county, its businesses and communities.
This is what growth with purpose means, using our funding to
support better wages, higher-quality jobs, and better, warmer,
more affordable homes.
With this funding secured, we will work hand-in-hand with our key
partners to make it easier to invest in our county and ensure
those benefits are shared.
In the Chancellor's Spending Review in June 2025, the government
announced a new approach to regional investment that included the
launch of a new Local Growth Fund. This supported the development
of York and North Yorkshire's Local Growth Plan which was
approved in July 2025, and subsequent Local Growth Delivery Plan,
approved this month.
York and North Yorkshire Combined Authority was awarded a
£40million Local Growth Fund over a four-year period.
