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The Local Economy

North Yorkshire... / The Local Economy

The Local Economy

 Here are a few facts for you about the economy of North Yorkshire:
  • A growing economy. GVA per head has increased by 34.7% over the last 10 years.1
  • 34,284 businesses contribute to an economy worth in excess of £13.5 billion.2

  • A connected location. Fast access to the national motorway network, York to London by train in less than 1hr50, 5 international airports within 1hr’s drive, the UK’s largest port complex on our doorstep.

  • High speed broadband. Through NYnet North Yorkshire has access to broadband connectivity equal to that found in many of the UK’s biggest cities.

  • York is the UK’s founding Science City a status that is being rolled out across North Yorkshire.12% of employees across York and North Yorkshire work in science and technology related sectors.3
  • 30% more people work in the creative sector than in agriculture.4
  • Scarborough was named Europes most Enterprising Place 2009.

  • Around a quarter of businesses located across York and North Yorkshire operate in the financial sector. The area’s success in this field is significantly enhanced by its close proximity to Leeds, the UK’s largest financial hub outside of London.5
  • Average labour costs in North Yorkshire are 13% lower than the national average and a staggering 31% lower than London.6

  • A skilled workforce. Skills levels of the working age population in York and North Yorkshire at NVQ levels 1, 2, 3 and 4, outstrip both the national and regional averages.7

  • A strong labour pool. 40,000 students graduate each year from Yorkshire’s nine Universities.8

  • York and North Yorkshire has three Universities, the University of York, York St John University and the University of Hull Scarborough Campus. The University of York was recently ranked at 74th in the world by Times Higher Education.

 

  1. Progress in York and North Yorkshire 2008
  2. Annual Business Inquiry 2006, and Yorkshire Forward
  3. Nomis, ONS 2005 figures
  4. Burns Owen Partnership, Economic Impact Study and Needs Assessment 2006
  5. Progress in York and North Yorkshire 2006
  6. Nomis, ONS Annual Survey of Hours and Earnings 2007
  7. Nomis, ONS Annual Population Survey 2007
  8. www.graduatesyorkshire.co.uk