LEP announces Enterprise Zone expansion
Sheffield City Region Enterprise Zone will today (11 March) announce plans to increase its size by almost a half.
The news follows extensive talks between local leaders and Government officials to negotiate the deal, which will see Zone expansions in Barnsley, Rotherham, Sheffield and Markham Vale, as well a new site at Doncaster-Sheffield Airport.
The Local Enterprise Partnership (LEP) has been brokering this deal with Government, which will mean that investors looking to set up in the Sheffield City Region will be able to access tax breaks across a new range of prime sites.
The existing Enterprise Zone sites totals 145 hectares, and this will add 70 hectares, which now gives the Zone a total area of 215 hectares.
The LEP has focused on attracting modern manufacturing and technology companies to the City Region by offering the opportunity to collaborate with world class manufacturers and universities in the area, as well as offering the top level of government tax incentives.
The announcement will be made today at MIPIM, where the LEP is showcasing the Enterprise Zone to an audience of 20,000 influential decision makers from the international property market.
James Newman, Chairman of Sheffield City Region LEP, who is currently at MIPIM in Cannes, said:
“I am delighted that the Government has listened to the LEP and enabled us to expand our Enterprise Zone to include additional strategic sites, including the land next to Doncaster Sheffield Airport.
“Since the launch of our Enterprise Zone in 2012, 18 new companies have located on our Enterprise Zone with 345 jobs already created on site and around 300 set to be created in the coming months.
“Businesses have been attracted to join our modern manufacturing and technology community which offers outstanding transport connectivity, a highly-skilled talent pool and the best UK Government tax incentives available.
“Now that our expansion has been confirmed, the LEP will be working closely with partners to ensure that the new sites can boast our full package Enterprise Zone benefits including simplified planning, superfast broadband and global promotion at international events.”
Local Growth Minister Kris Hopkins said:
“The Sheffield City Region Enterprise Zone is creating a world class centre for modern manufacturing and technology.
“Expanding the Enterprise Zone will help to grow a community of world class businesses, which already boasts names like Rolls-Royce, Boeing and Firth Rixson and bring more investment, jobs and a boost to the Sheffield City Region economy.
“This is part of our long term economic plan to back business and enterprise right across the country, and it will help Sheffield City Region to grow stronger to build more homes and create more jobs to harness the talents of hard working local people.”
Access to the new Enterprise Zone site at Doncaster Sheffield Airport will be improved by a new link to the M18 via the new FARRRS link road (Finningley and Rossington Regeneration Route Scheme). Construction of the new road is already underway, and it will connect the M18 at junction 3 to Doncaster Sheffield airport and the Inland Port development. The new road will be ready in early 2016.