Prime Minister Theresa May’s first regional cabinet meeting has seen the unveiling of her Industrial Strategy, in which she announced a £556m boost for the Northern Powerhouse initiative.
This funding will help create new jobs, support businesses and generate growth across the North of England.
£156.9m of this Northern Powerhouse fund will be delegated across Yorkshire and the Humber to support a number of key projects.
Among these projects is the Goole Intermodal Terminal, which will link the town’s existing rail, sea, motorway and inland waterway into one site, providing an integrated transport facility for business.
Funding will also go towards flood resilience measures in Bradford, Calderdale, Craven, Kirklees and Leeds. These will complement existing government investments and help safeguard over 11,000 jobs and 1,300 businesses.
Adam Marshall, Director General, British Chambers of Commerce, said: “The developing Industrial Strategy represents a crucial first milestone in a renewed partnership between business and government, working together to create the conditions for future growth.
“Business communities across the UK will be pleased to see that harnessing the potential of our cities, towns and counties lies at the heart of the government’s approach to Industrial Strategy.
“There are dynamic business communities in every corner of the UK - and it is their future success that will make our country more competitive and more prosperous.
“A deliberate and steady approach that leads to long-term change is the right way to go.”
The Local Enterprise Partnerships in Yorkshire that have been awarded funds include York, North Yorkshire, East Riding - £23.7m, Humber - £27.9m, Leeds City Region - £67.5m and Sheffield City Region £37.8m.