14 million pound bid to attract investment
The LEP is bidding for £14.2 million of central government funding to help to attract modern manufacturing and technology investors to the area.
If successful, the money from Government will help to fund £37.5m of improvements to the Sheffield City Region Enterprise Zone which is part of Derbyshire County Council’s Markham Vale site near Chesterfield. This will help to unlock over £80m of private sector investment and create over 2,000 jobs.
The LEP’s bid includes plans to build 180,000 square feet of medium sized business units to provide ready-made workplaces for international businesses to move straight into. The project also includes developing large areas of land so that big investors can build premises for their businesses more quickly.
Improvements at Markham Vale will help the LEP to build on the success of the Sheffield City Region Enterprise Zone. In its first year the zone attracted 15 new occupiers, created 228 new jobs and was picked out as the number 1 UK free zone by the Financial Times.
David Grey MBE, LEP Board Member and Chief Executive of Sheffield-based manufacturing group OSL Group Holdings Ltd, said,
“Every month the LEP Inward investment team talk to dozens of investors looking for locations for their businesses. They are attracted by the benefits of an Enterprise Zone, including the attractive tax breaks, however, many companies are unable or unwilling to wait for buildings to be built.
“I hope that Government will seize this opportunity to satisfy the unmet market need for available modern business premises in the Sheffield City Region.”
Councillor Joan Dixon, Derbyshire County Council’s Cabinet Member for Jobs, Economy and Transport, said: “We’re extremely hopeful this will be another exciting development for Derbyshire County Council’s Markham Vale site which continues to grow, despite the current economic challenges we are facing.
“We’ve invested over £70m to put in place solid foundations towards our long-term aim of creating 5,000 jobs and are delighted to have attracted a number of high profile companies.
“Over 600 jobs have been announced for Markham Vale during the last year alone and, if successful, this money will help open another large area of land for development.”
Councillor John Burrows, Local Enterprise Partnership Board Member, Leader of Chesterfield Borough Council and member of the Sheffield City Region Enterprise Zone Governance Board, said:
“Through this bid we’re asking for Government to make a £14m investment in our Enterprise Zone which will give growing companies the high quality workplaces they are looking for.
“This work will boost the local economy by £100m and create hundreds of jobs in the Sheffield City Region.”