Three major Sheffield City Region projects showcased to Chinese investors
Three key projects in the Sheffield City Region have been presented today to high-level Chinese investors in London. The Advanced Manufacturing Innovation District which runs between Rotherham and Sheffield, the Aero Centre at Doncaster Sheffield Airport, and the Unity development in Doncaster are among a portfolio of 13 projects offering more than £5 billion of opportunities across the Northern Powerhouse.
Sir Nigel Knowles, Sheffield City Region LEP, said: “Sheffield City Region is at the forefront of the Northern Powerhouse with national and global investors showing increased confidence and interest in being part of our success story. With everyone pulling together behind our key investment opportunities we are building a truly competitive centre of business excellence. Last year more than 1,000 jobs were created here by international companies and this growth has brought in £97 million in capital investment.”
The presentation, made by the Chancellor, Phillip Hammond, Northern Powerhouse Minister, Andrew Percy and International Trade Secretary, Dr Liam Fox, is part of the eighth UK-China Economic and Financial Dialogue (EFD), which will involve a series of events over a two-day period, including discussions on trade, financial services, infrastructure and energy.
Chinese Vice Premier Ma Kai, who brings with him the most senior Chinese delegation to the UK this year, will also have meetings with the Prime Minister and Bank of England Governor Mark Carney, with the overall dialogue focusing on forging a stronger strategic partnership between the UK and China – the world’s second largest economy.
The new portfolio follows the recent strong performance of foreign direct investment into the Northern Powerhouse, which grew at twice the national average last year.
The Chancellor of the Exchequer, Philip Hammond said:
“As we seek to take to take the golden era of UK China relations to the next step, we have a major opportunity to open up investment opportunities across the Northern Powerhouse.
“This portfolio, opening up billions of pounds of investment ready projects to Chinese investors, will support our work to grow and create jobs across the north, as well as underpin our ambitions to bring world class infrastructure to every corner of Britain.”
Northern Powerhouse Minister Andrew Percy said:
“Building the Northern Powerhouse is at the heart of our efforts to create an economy that works for everyone.
“Investors from abroad know that the North has some of the world’s best and most talented entrepreneurs and businesses, and today we’re showcasing 13 oven-ready opportunities to them which could create thousands of jobs for years to come.”
The Sheffield City Region projects in the Northern Powerhouse Investment Portfolio:
- Aero Centre, Doncaster: working with Doncaster / Sheffield Airport in the next phase of development to create new offices, logistic units and aviation hangars.
- Unity, Doncaster: a major regeneration and infrastructure project that will create 3,100 new homes, a transport interchange, school and community uses. There is also an opportunity to invest in commercial space for manufacturing uses, 6000 new jobs, a new power station and a materials recycling facility.
- Advanced Manufacturing Innovation District, Rotherham / Sheffield: an opportunity to invest in a 2,000+ acre centre of excellence for innovation-led advanced manufacturing in metals and materials. Over 4,000 new homes will also be created in the district.