Enterprise Zone driving forward growth
Sheffield City Region Enterprise Zone is playing a vital role in driving forward the economy, creating jobs hundreds of jobs and training the next generation of engineers, Communities Secretary Eric Pickles has announced.
Figures released today (Wednesday 12 November) show the Government’s 24 enterprise zones have created 12,530 jobs, attracted 434 new businesses and generated over £2 billion worth of private investment since opening for business.
Sheffield City Region Enterprise Zone has played its part in that success, creating nearly 500 jobs. The site is also providing a skills legacy for Britain with its state-of-the-art Advanced Manufacturing Research Centre. A hi-tech collaboration between aircraft giants Boeing and the University of Sheffield the facility is training 160 apprentices a year and ensuring the UK has the skills to compete on the global stage.
Communities Secretary Eric Pickles said:
“Sheffield’s Enterprise Zone is a success. Not only is it creating hundreds of jobs, but it’s also playing a vital role in training the next generation of engineers to ensure the UK can compete on a global scale. It’s further proof that our enterprise zone programme is on track, driving forward local economies and providing benefits to the community.”
The Government opened the 24 enterprise zones in April 2012 as part of a 25-year project to rebalance the economy, offering tax incentives, simplified planning and super fast broadband.
That vision has provided a major boost to the UK construction sector with work already carried out to redevelop 85 hectares of land and deliver more than 47,000 square metres of new or refurbished floor space.
James Newman, Chairman of the Sheffield City Region Local Enterprise Partnership, said:
“Our LEP has focused on building the UK’s number one Enterprise Zone for modern manufacturing and technology. We offer investors outstanding transport connectivity, a highly-skilled talent pool and the best UK Government tax incentives available. The strategy is clearly paying off with world leading technology companies recognising that Sheffield City Region is the best place for them to thrive in a highly competitive global marketplace.
“Since its launch, 18 new companies have located on our Enterprise Zone with 480 jobs already created on site and around 400 set to be created in the coming months. Our Zone is also home to over 160 students at the University of Sheffield’s AMRC Training Centre −providing the skills that manufacturing companies need to compete globally.”
The Sheffield City Region Enterprise Zone is providing a platform for modern manufacturing and technology companies to thrive. This includes:
- Innovation: The zone is home to a number of cutting-edge collaborations between industry and universities, including Siemens’ advanced turbine technology for wind farms and Boeing’s research to drastically reduce the breaking time of their Dreamliner aircraft. The zone is also home to the Nuclear AMRC which works with companies to improve performance in the nuclear supply chain;
- World-leading Technology companies alongside start-ups. The zone is a hotbed for innovation and hosted the Global Manufacturing Festival last year.
- Sheffield City Region has been rated the world’s number one Enterprise Zone for Modern Manufacturing and Technology in the UK by the Financial Times fDi magazine; and
- Government investment: In January the Government announced £14 million of infrastructure funding for the enterprise zone. The additional investment will support expansion of the zone’s Markham Vale site with access roads, 180,000 square feet of commercial floorspace, and prepare 33 hectares of land for development.