The South Yorkshire Mayoral Combined Authority has entered into a strategic partnership with Aviva Capital Partners to drive economic growth in the region.
A Memorandum of Understanding (MOU) has been signed to forge a strategic partnership aimed at fostering innovation, economic growth and housing development in South Yorkshire.
The parties are aiming to capitalise on the vast potential of South Yorkshire, building on Aviva's expertise and experience to support SYMCA's pursuit of private investment for sustainable economic development.
The partnership, supported by the four local authorities in Barnsley, Doncaster, Rotherham, and Sheffield, seeks to drive positive outcomes for the local economy and communities.
South Yorkshire mayor Oliver Coppard said: "The ongoing transformation and regeneration of cities and towns in South Yorkshire, along with the region's rich cultural and industrial heritage, present numerous opportunities for increased private investment in our region.
"Working closely with Aviva, I am looking forward to the opportunities that this relationship will bring about for South Yorkshire as we accelerate the growth of new businesses, foster innovation, and promote modern construction methods for residential development.
"Our housing vision for South Yorkshire emphasises the availability of quality, affordable, and sustainable housing that contributes to a net-zero economy.
"With a need for approximately 5,000 new homes annually, including 2,000 affordable homes, this is the start of a collaborative approach that will address the needs for the residents of South Yorkshire who deserve access to safe, affordable housing for themselves and their families."
John Cummins, chief executive at Aviva Capital Partners, added: "Aviva has a strong presence in South Yorkshire and is committed to boost the economy of the region through this new partnership with SYMCA. We're looking forward to fostering sustainable economic growth, infrastructure and housing through private investment."
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