The Chancellor announces York will get its own enterprise zone which boosts the city's potential for a train station overhaul.
In the North of England nine places were awarded either a new business zone, or an extension to an existing one during the Autumn Statement. York Central's Teardrop site and the M62 corridor will get a brand new deal, and Hull's existing deal was expanded.
Conservative MP for York Outer, Julian Sturdy said the Chancellor's Autumn Statement was 'great news for the country and also for York'.
There are now hopes the train station could become the 'King’s Cross of the North', and research is being carried on how the London station could act as a blue-print.
Mr Sturdy said: "The York Central Teardrop site is perhaps the city’s greatest opportunity to revitalise our local economy, and I am thrilled that the Chancellor has recognised the strength of the Enterprise Zone bid, giving the regeneration project his full backing in today’s statement. This is a victory for our Conservative led council and the Local Enterprise Partnership who have championed the bid that will deliver economic growth, housing and thousands of new jobs.”
The Chancellor also confirmed £50 million of new funding for state of the art agricultural technology centres, two of which will be centred in York. FERA will now host two new centres of excellence in livestock health and crop protection.
Mr Sturdy added: “I have been campaigning for York to be recognised as a leading centre of scientific research in food and farming for over many years. I first lobbied the Farming, Food and Rural Affairs Secretary for a centre of excellence back in 2010 and I am delighted that York now has funding for not one but two centres of world-leading research.
“Across Yorkshire we can make use of our wide variety of farming, from the arable farms in the Vale of York, to the livestock industry in the Dales. Two new Centres of Agricultural Excellence will help York to take a global lead in food and farming research, supporting world leading innovation right through the farming supply chain.”