Yorkshire Forward
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Template:Infobox public organisation
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Yorkshire Forward is the regional development agency and non-departmental public body for the Yorkshire and the Humber region of the United Kingdom.[1] It supports the expansion and development of business in the region by encouraging public and private investment, and by connecting people to economic opportunity. It works to improve levels of education, learning and skills, and to enhance the region's environment and infrastructure.
Regional Economic Strategy
Each of England's 9 RDAs is required to work with partners in the region to draw together a Regional Economic Strategy. This document sets out for the whole region how the RDA's statutory objectives will be met and the region developed. In theory, these strategies are owned by the whole region, not just the RDA. Regional Assemblies - on behalf of regional 'stakeholders' - and Government Offices for the Regions must approve the document before it can be published. The document provides the context for other economic development and regeneration activity in the region and provides government departments with a framework that sets out the direction that policies for that region should support. These are reflected in the regional emphasis documents that each region prepares for the Spending Review. Enable government departments to consider the impacts that their policies will have in the regions over the next spending period.
The Yorkshire economy
This region's economic growth outstripped the European average for 5 years running [2]. The GDP of over £75 billion is large enough to rank it in the top 20% of the world’s national economies and represents 8% of total UK output. However, this growth has not been sufficient to even begin to close the productivity gap between Yorkshire and Humber and either the London or South East region.
Businesses in Yorkshire benefit from operating costs up to 20% lower than the UK average, a competitive property market and average salaries 7% below the national average [citation needed]. There is a strong, stable economy and commitment to world trade. Qualities like a strong skill base, the transport network, and a fast growing economy have helped turn this region into a worthwhile investment opportunities. There are low operating costs and access to significant levels of UK and European financial incentives, which coupled with the UK’s low tax economy, means Yorkshire and the Humber can offer distinct and advantageous financial incentives. Some 1200 foreign owned companies have already based their operations here [citation needed].
Yorkshire Forward's performance & planning
2005/06 performance
Figures released in 2006 by the Department of Trade and Industry (DTI) show that for every 1% of budget spent, Yorkshire Forward created 12 businesses and it cost the agency 19% less than the rest of England's RDAs to create a job and 12% less to reclaim and make fit for development a hectare of land. These figures also reveal that Yorkshire Forward met all its annual DTI targets to grow the region's businesses, help people into jobs, and bring investment into Yorkshire and the Humber in 2005/06.
The agency has supported the creation of more than 1,000 businesses, helped nearly 31,000 companies to improve their performance, and brokered research and development opportunities for another 250 businesses [citation needed]. It has helped create or protect 23,810 jobs, assisted 2,588 people to get a job, backed 58,607 people in their skills development, and helped 316 people to gain basic skills and 1,587 to achieve NVQ level 2 [citation needed].
Corporate Plan 2005-10
This Corporate Plan sets out Yorkshire Forward’s overall direction and priorities for the five-year period. It defines our corporate objectives and core business, while also setting out the Investment Planning process that will be used to deliver the Regional Economic Strategy (RES). The document describes how Yorkshire Forward will use the funds and support it receives to make the region a better place to live, work and invest. The document also helps synchronise the agencies planning and funding horizons with the Government Spending Review process.
Cluster strategy
Yorkshire and the Humber is at the forefront of the cluster theory of economic development, actively investing in key business sectors to accelerate economic growth and encourage higher value added business.
A cluster is a group of organisations in related industries that are linked together because they buy or sell from each other or because they use the same infrastructure, customers or skills base.
A cluster is much more than an industry sector. Clusters encompass a broad range of organisations linked by a common element. For example, a ‘Food and Drink’ cluster would include food producing companies, logistics and freight providers, financiers, research institutions, distributors etc. It would be made up of every part of the chain from raw ingredients to packaging designers and retailers. The well-developed supply-chain that links the 500 food-related companies in the Greater Grimsby area shows how mutually reinforcing companies can drive local and regional economies.
Companies who are part of an active cluster, according to some theorists (for instance Porter, 1997) to be more competitive and profitable. According to these theories they benefit from the following advantages:
Yorkshire Forward has identified seven key clusters that have the potential to deliver significant economic growth in the future. They are:
However, it is debatable whether clusters can be developed by top-down governmental incentives. History and path-dependency are key factors in determining the success of clusters, as shown in the most widely referenced regional success stories of Silicon Valley and Emilio-Romagna. Clusters are supposedly based on particular strategic competitive advantages held by a particular place: in contrast, many of Yorkshire and Humber's clusters bear a striking similarity to cluster policies in the North East, North West and East Midlands. Another issue relates to the scale at which cluster policy should be implemented. There is a degree of debate around whether 'cty-regions' are a more 'natural' scale for clusters to operate at.
"Yorkshire Alive with Opportunity!"
"Yorkshire Alive with Opportunity!" represents a new 'one voice' approach to a region that is as successful and dynamic as it is diverse.
References
- ^ Home - Yorkshire Forward
- ^ "UK Region – Yorkshire and Humber - Other countries in Europe". www.ukinvest.gov.uk. Retrieved 2009-05-01.
- ^ "AEM Yorkshire". AEM Yorkshire. Retrieved 2009-09-10.
Porter, M (1998) Clusters and the New Economy, Harvard Business Review 76, 6
External links
- Yorkshire Forward website
- Government Office for Yorkshire and the Humber
- Yorkshire and the Humber Assembly
