Enterprise Zones investment grows to over £1bn

ELEVEN Enterprise Zones, including three in Yorkshire, are to benefit from a £150m boost from the Government to create local jobs and secure growth across the country.

The fourth round of the Regional Growth Fund will help companies in Enterprise Zones expand their operations, creating new private sector jobs and economic growth.

Leeds City Region Local Enterprise Partnership: Awarded £5.7m to establish a grant scheme for small and medium business in the Aire Valley Enterprise Zone.

East Riding of Yorkshire: Awarded £18m to develop the site next to the potential Siemens offshore wind turbine facility for suppliers.

Sheffield City Region: Awarded £25m to support small and medium businesses with limited access to other funding across the Sheffield City region.

This means Enterprise Zones and the Local Enterprise Partnerships which support them will benefit from just under £800m of Government investment which has been already matched by almost £230m of private sector investment, with many more on the pipeline.

Local Growth Minister Mark Prisk said: “This is more good news for Enterprise Zones. They are already having a positive impact in the economy, having created 3,000 jobs and attracted £230m in private sector investment since their standing start one year ago.

“Their significant tax incentives, simplified planning and super fast broadband are making the country a great place to do business and rebalancing the economy by creating new local jobs and business ventures.

“The extra investment will give our Enterprise Zones another boost towards delivering strong and lasting growth so we can compete in the global economy.”