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13
Feb
Does Harrogate need an investment plan?
Amid the uncertain economic climate, North Yorkshire Council intends to draw up investment plans for 30 towns across the county.
Included in the depths of a 12-page report outlining its plan, the council referred to Harrogate as a “primary economic centre” which has “significant opportunity for economic growth”.
Ripon and Knaresborough, which the council says provide "essential services and employment opportunities", are also expected to have their own investment plans drawn up.
The report includes a lot of detail on which areas are primed for growth and pointed to the need to “identify the investment needs and opportunities”.
But what does an investment plan actually do and does Harrogate really need one?
What does an investment plan do?
At the height of Boris Johnson’s tenure as Prime Minister, the government unveiled a plan to “level up” the United Kingdom.
Part of this agenda was to grant some areas of the country extra investment as part of a £3.6 billion Towns Fund.
For some, the fund was an opportunity to fund individual projects. Others sought to bid as part of a wider investment scheme.
Down the A61 in Leeds, a £24.3 million figure was awarded to Leeds City Council as part of a town deal for Morley, a suburb in the city, in 2022.
The investment was secured after the city council drew up an investment plan for the area and used it to secure significant funds for projects such as new public open space, an innovation hub and improved connections to the town centre, Morley Train Station and the White Rose Shopping Centre.
At the time, Cllr Helen Hayden, executive member for infrastructure and climate on Leeds City Council, said the investment plan was key to improving Morley.
She said:
The Town Investment Plan is a real opportunity to build a better future for Morley. Not only will these plans bring essential health, environmental, and transport improvements and secure the town’s heritage, they will deliver excellent education and job opportunities for the future.
In Harrogate, no such plan exists.
Richard Flinton, chief executive of North Yorkshire Council, told businesses at a chamber meeting in January that the council recognised the absence of any “masterplan” for the town.
The authority is keen to use its new found influence as a unitary council to develop these plans. As a result, it has bid for £1.2 million in funding from York and North Yorkshire Combined Authority to draw up the blueprint.
Louisa Carolan, principal regeneration officer at the council, said in a report that an investment plan would help to provide a “structured focus” to future economic decisions.
She said:
Investment plans are strategic documents which provide a co-ordinated approach to regeneration and investment at a place-based level. They will help the council, the combined authority and other partners and stakeholders to understand investment priorities within an area and provide a structured focus for future business cases and investment decisions.
Part of the purpose of the plans will be to identify funding streams for projects in an area.
In Morley, the government’s Town Fund was earmarked as a potential source of investment. However, in Harrogate, it may be another source depending on what projects are suggested for the area.
But, does the town need an investment plan?
Richard Flinton, chief executive of North Yorkshire Council.
For Mr Flinton, the council is keen that one is drawn up and done so in consultation with business.
He told businesses:
We know that there has not been a masterplan for Harrogate and, if you like, a formal investment plan into a vision of what we want for Harrogate for some time.
We are very keen to address that this year and to engage businesses in that process. We are hoping to start that process in a few months time.
Matthew Chapman, chief executive of Harrogate Business Improvement District, said the BID would support an investment plan in order for the town to have "one agreed direction" to take it forward.
He said:
We at the BID fully support the plans for a Harrogate Town Investment Plan. As a place, opinions and views can sometimes feel a little disjointed, so to have one agreed direction to take us forward from all partners can only be a positive thing.
We as a place are also sometimes a victim of our own success, whether it's being unable to apply for the many Government-led funds due to not having sufficient evidence, not enough data and vision in place on where our gaps maybe leading to little investment into what is seen on paper as a successful.
Prosperous places are still needed in both the present and future.
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