Property investment fund aims to drive further economic growth into town

Barnsley Council will launch the third stage of the Property Investment Fund (PIF) scheme to help boost further economic growth in Barnsley.

Stage three of the scheme follows on from the success of the first phases, which started back in 2014 and has created over 400,000 sqft of commercial property, providing jobs across the borough.

This scheme has worked with local property developers and succeeded in attracting major global companies to the area while also helping local businesses expand.

Despite the impact of the pandemic, Barnsley Council says the town is experiencing some of the highest ever levels of uptake for commercial property.

It adds the PIF scheme will make sure the district has a future supply of suitable business premises.

The formal launch of the scheme will be on Thursday 9 December. The first stage will allow property developers to submit their applications.

Councillor Tim Cheetham, cabinet spokesman for place, said, “It is extremely positive news that our successful PIF scheme will launch its third phase.

“It shows that by having those long-term plans and funding in place for commercial developments, we have continued to attract businesses and create jobs.

“As part of our vision for 2030, economic growth in Barnsley is a key priority, and PIF3 will help us to secure future investment and support our Jobs and Business Plan to attract 1,600 new businesses by 2033.”