Breaking: Go-ahead given for enterprise zones
THE Lower Aire Valley in Leeds and a number of sites connected by the M1 in South Yorkshire have been given approval today by the Government to become enterprise zones.
Both plans had been recommended by the respective Leeds and Sheffield city region local enterprise partnerships and put forward to government for approval.
The Sheffield City Region LEP’s enterprise zone will focus on advanced manufacturing and technology based industries to promote a ‘Made in Sheffield’ brand that will build on the existing strengths of the area’s economy.
The enterprise zone is expected to generate up to 12,600 jobs and more than 400,000 sq m of floor space for 250 businesses by 2015 and generate £20m a year in new business rates.
The Leeds enterprise zone will consist of four sites within the Lower Aire Valley area covering 142 hectares and aims to create more than 4,000 new jobs in low carbon industries and modern manufacturing.
The newly completed East Leeds Link Road runs through the zone, connecting it to the M1 motorway and Leeds city centre. Carbon-efficient buildings and development related to public transport will also be permitted via a simplified approach to planning regulation, the Government said.
The Government also approved enterprise zones in Birmingham and Bristol today.
The zones will benefit from discounts on business rates, new superfast broadband, lower levels of planning control and the potential to use enhanced capital allowances.
The Government will announce the location of a further 10 enterprise zones shortly, it said.
Neil McLean, chairman of the Leeds City Region LEP, said: “An enterprise zone for the city region means a potentially significant increase in economic output and access to job opportunities across the city region.
“By reinvesting the proceeds of the EZ in city region priorities we will ensure that all our communities benefit from this exciting new initiative.”
James Newman, chairman of the Sheffield City Region LEP, said: “Enterprise Zone status represents a significant long-term investment in the Sheffield City Region’s economy, and we’re delighted to receive Government-backing for our proposal.
“To create jobs and economic growth, there needs to be investment in the sectors which present the biggest economic opportunity, and that’s exactly what the Modern Manufacturing and Technology Growth Area will provide.
“It will build upon and accelerate the development of modern manufacturing in the Sheffield City Region, which already has one of the largest concentrations of this industry in the UK.
“It will also capitalise on growth sectors in which the City Region already has a competitive advantage, including low carbon industries, creative and digital, and medical technologies.”
Communities Secretary Eric Pickles added: “Today we are giving the go-ahead to sites in Birmingham, Bristol, Leeds and Sheffield because they have the pedigree to accelerate growth and create thousands of new jobs. Our low-tax, low-regulation Enterprise Zones will help make our country the best place in Europe to start and grow a business.
“With 10 more Enterprise Zones still to come it’s great to see the local ambition and innovation that emerges when central Government steps back and gives local areas the chance to shape their own economy.”
James Newman, chairman of the Sheffield City Region LEP, said: “Enterprise Zone status represents a significant long-term investment in the Sheffield City Region’s economy, and we’re delighted to receive Government-backing for our proposal.
“To create jobs and economic growth, there needs to be investment in the sectors which present the biggest economic opportunity, and that’s exactly what the Modern Manufacturing and Technology Growth Area will provide.
“It will build upon and accelerate the development of modern manufacturing in the Sheffield City Region, which already has one of the largest concentrations of this industry in the UK.
“It will also capitalise on growth sectors in which the City Region already has a competitive advantage, including low carbon industries, creative and digital, and medical technologies.”
