West Yorkshire named by the Government as having the opportunity to bid for an Investment Zone

Reacting to the news that West Yorkshire has been named as one of the areas able to bid for 12 Investment Zones across the UK by the UK Government,  the Leeds Innovation Partnership have issued a statement.

The Government set out a plan last year, rooted in boosting the UK’s potential as an innovation nation, growing strengths in key industries to
support national priorities, and levelling up communities across the country.

At the Autumn Statement, the Chancellor announced that the government would launch a refocussed Investment Zones programme as a critical part of this plan, aimed at
catalysing a small number of high-potential clusters in areas in need of levelling up to boost productivity and growth.

Investment Zones will be targeted at places with the right combination of characteristics to support these objectives. They will reflect the principles of the Medici model set out in the Levelling Up White Paper, harnessing local sector strengths to drive productivity, and leveraging the bottom-up energy of local talent, knowledge and networks to deliver sustainable growth that benefits local communities. They must be rooted in partnership between central government, local
government, research institutions and the private sector, in order to realise the potential of our cities and regions.

The 12 areas and regions now have time to consider their bids for the next stage of the selection process.