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£34m Long Term Development Aid Boost for Humberside
01 Apr 2002
Addressing the economic development of the Humber sub-region and helping to implement the Regional Economic Strategy vision of a world-class prosperous region, the monies will be used to promote and develop local assets, encourage inward investment and improve local infrastructure, skills and facilities. Over £15 million will come from the Regional Development Agency, Yorkshire Forward, over the next three years, while an additional £19.6 million will come from the European Regional Development Fund (ERDF). The monies will also help fund projects which harness the added-value potential of goods flowing through the regional ports of Hull, Goole, Immingham and Grimsby.
These ports handle more dry bulk cargoes than any other UK port and their liquid bulk facilities are among the most advanced in the world. More than 320 million people can be reached within 24 hours from the Humber.
Projects initiated by the HTZI include promoting the increased use of these ports and developing long-term trade and investment relationships with Europe. A broader awareness of the services offered by these ports will be boosted and accessibility improved by the promotion of major transport initiatives to resolve blockages and bottlenecks.
A new report by the Humber Forum highlights the estuary's national and international significance as one of the last underdeveloped estuaries in Europe. Its potential for economic growth must be balanced with the importance of wildlife habitats which have led to a proposed designation as a Special Area of Conservation.
The report also claims that some excellent regional facilities and infrastructure have not realised their full potential due to a lack of innovation, entrepreneurship and knowledge.
Improving these intangible resources is seen as one of the key tasks facing the HTZI.
MJ Information 16909
