The Industrial Strategy is our long-term plan to boost productivity by backing businesses to create high-quality, well paid jobs throughout the United Kingdom, with investment in skills, industries and infrastructure. The Government is supporting businesses in both the Yorkshire and Humber and Haltemprice and Howden constituencies. For example, the Government-backed British Business Bank’s Start-Up Loans programme provides loans to entrepreneurs seeking to start and grow their own businesses. Since 2012, 5,482 loans have been issued in the Yorkshire and the Humber region, totalling over £45m, and with an average loan amount of £8,249. In the Haltemprice and Howden constituency, 103 loans have been issued, totalling £926,277 (as at end-June 2019).
The Industrial Strategy Challenge Fund, which brings together world class UK research with business investment to develop the technologies that will transform existing industries and create entirely new ones, has allocated to date £49,970,387.29 grants to establishments registered within Yorkshire and Humber.
The Government is investing over £1.3 billion through Yorkshire and Humber Local Enterprise Partnership Growth Deals This is providing financial assistance to local businesses to help create jobs, as well as improving infrastructure and skills. It has also established Enterprise Zones across the region, including the largest award in the country to the Humber, which are attracting business investment and new jobs to the region.
Also, £13.6m has been awarded through Local Growth Funding for projects in this area to safeguard jobs from flood risks and for road improvements.