Scarborough was named Most Enterprising Place in Yorkshire and Humber in May 2008. The competition celebrates and rewards the most enterprising areas in the UK. Scarborough's entry to the competition detailed its economic turnaround over recent years. Their submission outlined how declining industries such as fishing and tourism have affected the town economy and explained how,Scarborough has turned this around since 2002 as a result of the towns commitment to the Urban Renaissance Programme. The creation of new public realm and business space has increased confidence in Scarborough resulting in over £300m private sector investment to the town.