North Yorkshire Mayoral candidate pledges to bring £600m of investment to the region

North Yorkshire’s economy will see a £600 million boost, a candidate for the new mayoralty has pledged.

Matthew Freckelton, who is running to be the Conservative candidate in next year’s North Yorkshire mayoral election, said the plans will create thousands of jobs for local people.

He said that he will help secure at least a £600 million increase in foreign direct investment into North Yorkshire.

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Currently the region only attracts 0.37 per cent of the £7.5 billion of the investment that comes to the UK.

head-shot of Matthew Freckelton.head-shot of Matthew Freckelton.
head-shot of Matthew Freckelton.

Every region that borders North Yorkshire, with the exception of Cumbria and the Tees Valley and Durham, attracts more investment from around the world, his campaign said, adding that the region is one of the worst performing in England for securing global investment.

Mr Freckelton said he will work closely with the Department for Business and Trade and the Office for Investment, as well as directly with international businesses, as well as establishing a dedicated “inward investment team” within the combined authority, brought in from the private sector.

Mr Freckelton said: “North Yorkshire is a fantastic place to invest and do business. But unfortunately, when it comes to securing investments from global firms that will boost our economy and create thousands of good-quality well paid jobs, we’re simply not doing good enough.

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“For me it is unacceptable that almost every part of England lands more global investments than we do in North Yorkshire.

“This has to change and that’s why, as Mayor, I will be unapologetic in my drive to increase international investment.

“We cannot sit back and expect investments to just land in our lap. We need to be proactive and sell the region, along with the benefits of coming here, to companies around the world.”