South Yorkshire’s Mayor Oliver Coppard has announced the formation of his Mayoral Economic Advisory Council, which will help boost economic activity in the region and support the Mayor’s growth plan.
The Mayoral Economic Advisory Council, made up of 11 world renowned economic and business experts, is just one of the Mayor’s initiatives to support South Yorkshire’s growing list of economic partnerships and development of projects for external investors to fund making South Yorkshire the go-to business hub.
This comes as the region rapidly bolsters its economic and business credentials. Successes have included:
• South Yorkshire was announced as the Government’s first Investment Zone, which will create 8,000 new jobs and bring £1.2 billion worth of private investment by 2030. The first investment is worth over £160 million and is for a Boeing-led sustainable aviation research project, complementing the region’s advanced manufacturing prowess.
• University spinouts venture Northern Gritstone announced £215 million worth of investment into South Yorkshire, as well as Greater Manchester and West Yorkshire. The funding will be used to develop a ‘northern innovation hub’, comparable to the US’ Silicon Valley.
• Multiple smart local investments from global companies like Boeing and Google.
• Partnerships with organisations such as Homes England and Aviva, to support more sustainable house building in South Yorkshire.
• A partnership worth £500 million worth of levelling up investment from the South Yorkshire Pensions Authority.
Speaking on the establishment of the Mayoral Economic Advisory Council and the region’s recent slew of investments, South Yorkshire’s Mayor, Oliver Coppard, said: “My job is growth. So I’m delighted I’ll now be able to rely on the support and expertise of global economic leaders through our Mayoral Economic Advisory Council.
“In South Yorkshire we want to restore the pride, purpose and prosperity of our communities, but more than that we want to show the world what a 21st Century post-industrial economy can look like.
“Our ambition is now matched by our expertise. Between them, the eleven members of the Council will offer me advice and guidance that is at the very forefront of economic thinking, based on decades of experience and practical delivery.
“We’ve made huge progress over the last couple of years. We’re home to the world’s first Advanced Manufacturing Innovation District and now the UK’s first Investment Zone, as well as companies and people at the very forefront of materials science, propulsion, power, digital, and health-tech.
“But there’s still much more to do. Right now, our economy is too small, and not everybody has the opportunity to stay near and go far. I’m determined to tackle that challenge head on, and with the help of our new MEAC I have no doubt we will go further and faster than we ever have before.”
The national and global expertise brought by the Council, alongside the local knowledge of the Mayor and the Mayoral Combined Authority and the Business Advisory Board, brings together a wealth of expertise to support South Yorkshire.
On becoming a member of the Mayor’s Economic Advisory Council, Chair of the AMRC’s Industrial Board, CEO of RSA and former Chief Economist for the Bank of England, Andy Haldane said: “Working with Oliver Coppard on the future of South Yorkshire’s business potential is an extremely exciting prospect.
“The region’s plan for wealth, health, and happiness is already showing exceptional innovation across industries of the future, and bets of confidence from Boeing, McLaren, Aviva, and other incredible partners show this.
“But there’s more to do – and working alongside the Mayor and combining his passion and knowledge of the region with the Council’s decades of economic and business expertise presents an exciting prospect for inclusive and regenerative growth in South Yorkshire and prosperity for the future.”
The MEAC will provide leadership in thinking and insight as well as provide challenge on how things are currently being done so South Yorkshire continues to grow.
The Mayor has already launched his Business Advisory Board, which brings local business expertise together to drive growth, jobs and better life prospects in the region and they will be informed by the work of MEAC.
