Yorkshire & The Humber

With a population of over 5m and an economy worth in excess of £80bn, Yorkshire and Humber ranks amongst the top 20% national economies in the world.

In the 1980s and 1990s the region suffered from decline in its traditional industries in coal mining, steel, engineering and textiles as a result of global shifts in these markets.

Since 2001, the economic fortunes of the region have been overwhelmingly positive. GDP within the region has grown by 12% overall, compared to 9% on average within the UK and 6% in the EU15. Unemployment is at one of its lowest levels in the last 30 years.

However, challenges remain. The region still sits in the bottom half of many tables measuring competitiveness and productivity drivers. Although levels of entrepreneurship are increasing, Yorkshire and Humber still needs to generate more businesses, especially in high value industries and to continue to up-skill individuals to meet emerging business needs. One of the region’s greatest investment needs is transport infrastructure, which demands greater public and private finance. Areas of the region remain economically underdeveloped or disconnected, in both rural and urban communities.