Harrogate, Leeds and Sheffield tipped for best economic growth in Yorkshire

Harrogate, Leeds and Sheffield have been named as the three places forecast to experience the region’s highest economic growth over the next two years.

The EY Regional Economic Forecast, compiled by accounting firm Ernst & Young, says Leeds’ economy is expected to grow by 2.1% per year on average over the course of 2024 to 2026.

Harrogate and Sheffield are predicted to have the joint-second fastest-growing economies across Yorkshire and the Humber over the same period, with both projected to see annual average growth of 1.9%. Hull fares worst, with forecasted growth of 1.2%.

The region’s overall forecasted average annual growth of 1.7% is the joint lowest in the UK — and well below London’s predicted 2.6%.

Stephen Church, Ernst & Young’s north market leader, said:

“The north is home to many of the UK’s most dynamic and innovative businesses and, while the next 12 months will be economically challenging, there are areas across the region where we can expect to see encouraging growth over the next few years.”

But Mr Church added “too many places are still expected to trail behind” and that regions “need their own clear strategies for growth, which reflect each region’s own strengths and unique attributes”.

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By 2026, Harrogate’s local economy is expected to be £0.2 billion larger than in 2022. The real estate activities and professional, scientific and technical sectors are expected to record the biggest absolute increases in growth over this period.

As well as expecting some of the fastest economic growth in the region from 2024 to 2026, Harrogate and Sheffield are also forecast to see their employment growth match the national growth rate over the same period, with annual average growth of 1.3% in both places.

The regional average is 1.1%.

Ernst & Young, one of the big four accounting firms, uses economic data to model future performance for the forecast.

 

Business Breakfast: Marketing agency appointed to support Knaresborough energy firm

Business Breakfast is sponsored by Harrogate law firm Truth Legal. 

A Harrogate marketing agency has been appointed to support a Knaresborough-based international energy company with its plans for growth.

The Big Bamboo Agency will deliver strategic marketing, PR, social media management and community engagement activities for Harmony Energy.

The firm, which develops utility-scale battery energy storage along with wind and solar projects, has worked across the UK as well as developing its work in France and New Zealand.

It has a long-standing relationship with Tesla, which has provided battery systems for its UK sites.

Pete Kavanagh, chief executive of Harmony, said:

“We were looking for an agency that would become an outsourced marketing and communications team, as an extension of the wider team we already have in place. We wanted to find a partner that we could build a long-term trusted relationship with.

“Having met Nicola and other members of the team, we knew we had found what we were looking for. Their experience and capabilities fit nicely with ours and we know they will understand our industry, due to their extensive credentials.”

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Money-saving energy advice for Harrogate BID businesses

Businesses will have the opportunity to learn more about saving money on energy bills at a series of events today.

Harrogate BID is inviting its members to join one of three sessions in person or online to hear from energy consultant Ryan Edwards.

He will give businesses a clearer picture about the current energy market, as well as giving advice on securing energy contracts.

The first event is at Jespers Bar and Kitchen on Station Parade at 9.30am, with another at Starling Cafe on Oxford Street at 5.30pm. A session will also be held on Zoom at 11am.

Businesses interested in taking part can email Harrogate BID for more details.