20-year economic plan for South Yorkshire agreed

A 20-year strategic economic plan (SEP) for South Yorkshire has been agreed by Sheffield City Region Mayoral Combined Authority (MCA) and Local Enterprise Partnership (LEP).

The plan aims to boost the regional economy by £7.6bn GVA by 2041, raise wages by over £1,500 for the lowest paid, and help establish a net-zero carbon economy.

It has been developed in collaboration with South Yorkshire’s four councils and will help the Sheffield City Region MCA and LEP secure additional funding from government, such as through the UK Shared Prosperity Fund.

‘The approval of the strategic economic plan is a significant signal of intent to government, investors and people and businesses in our region,’ said Sheffield city region mayor, Dan Jarvis.

‘This landmark plan sets out how we will transform our region as we seek to overcome the biggest economic challenge in a generation.

‘We want to create good, high-paid jobs for local people, attract investment and ensure our people have the skills they need to thrive. We will work with our partners to improve the health of our residents, reach net zero emissions by 2040 and transform the places people live. The strategic economic plan provides the blueprint for how we can come together to build a stronger, greener and fairer city region – creating not just a bigger, but a better economy for us all,’ added Mr Jarvis.

‘The South Yorkshire economy has huge untapped potential. This is an unashamedly ambitious plan, but I am already working closely with our local authorities, business partners and government to making our goals a reality.’

James Muir, chair of the Sheffield City Region LEP, welcomed the approval of the SEP.

‘The SEP is a fantastic example of how beneficial it is for the public and private sectors to come together so we can improve the lives of people across the region,’ said Mr Muir.

‘South Yorkshire’s business community is integral to the implementation of this plan as we look to accelerate them on the national and global stage and improve our ways of working so that business and employment contributes to the wellbeing and quality of life of our people.’

Photo credit – Sheffield City Region Mayoral Combined Authority