How exports push will level up UK – Penny Mordaunt

Today, the county is home to many of the digital tech innovators that are helping lead the way in driving the third industrial revolution that is re-shaping the way we live and work.

Its vibrant cities have made it a very attractive destination for foreign investment.

So it’s hardly surprising that since 1997, Yorkshire and the Humber have seen a three-fold increase in the number of US-owned local businesses, while employment within them has jumped 158 per cent.

West Yorkshire has the highest number of US-owned businesses in the region – with more than 1,000 – and even outnumbers some parts of London, Bristol and Manchester.

As Minister for Trade Policy, I have spent the last two weeks going state to state in the US where I’ve been banging the drum for Yorkshire’s incredible local industries.

Along the way, I’ve met with governors, local representatives, commissioners and businesses in each state to discuss priority areas to emphasise opportunities to boost trade between US states and UK regions like Yorkshire.

I am keen to make progress that will help drive investment, jobs and growth at local level.

As the two biggest exporters of services in the world I want to deepen our relationship with US states, to make it easier for professionals, such as engineers or lawyers to work on the other side of the Atlantic.

I’ll also be looking at increasing co-operation in areas from digital to agriculture.

As the home to some of the most iconic British brands like Mr Kipling, Yorkshire is also proudly waving the flag for quality UK exports.

Recent analysis by the Department for International Trade shows that 60 per cent of UK jobs for US-owned companies are now outside of London and the South East.

More than 2,300 companies in Yorkshire and the Humber are exporting goods to the States.

Some 63 per cent of services exports to the States are in the finance and insurance space.

When it comes to services, the region’s financial centre is thriving, with exports of financial and insurance activities to the US reaching over £1.8bn in 2019.

The tech industry is also seeing huge growth.

In 2020, tech companies in Yorkshire and the Humber raised £159m in investment and Leeds recently came third in a list of regional cities with the most high-growth businesses.

A great example of this is Hull-based hospitality software company Tevalis which, thanks to support from the Department for International Trade (DIT), was able to conduct market visits to North America to start expanding their business resulting in significant new clients.

Another firm exporting successfully with the US is Voltage Sport.

The fitness clothing brand, which started as an online lifestyle blog, also tapped into DIT support to explore the US market and improve their US social media presence with a marketing agency.

But there’s no doubt, Yorkshire has even more export potential to tap into.

That’s why we recently launched our new ‘‘Made in the UK, Sold to the World’’ plan, to help businesses across the region tap into the Government’s export support schemes and start selling their world-class products and services around the globe.

This includes our dedicated Export Support Service that offers a one-stop shop for exporting advice, and the launch of a new UK Tradeshow Programme better-tailored to help regional businesses to attend and promote their products around the world.

We’re a nation of exporters and the US represents a massive market f or businesses in Yorkshire. Not only this, but we already know that trade is a sure-fire way to help level up this country, supporting jobs and growth and transforming local economies.

Penny Mordaunt is Minister for Trade Policy and a Tory MP.

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