Businesses are being urged to bid for a share of £180 million of EU funding for business support, innovation and inward investment on the Enterprise Zone.
Government is now calling for applications to the European Structural and Investment Fund.
Sheffield City Region Local Enterprise Partnership says the funding will be used to support priorities set out in the Growth Plan.
Last July, Sheffield City Region secured £320m from Government to deliver some parts of the plan.
This announcement will provide extra cash to help take it forward.
James Newman, LEP chair said: “Sheffield City Region’s programme for EU funding has been designed by the LEP and local partners to ensure that our economy gets the biggest boost possible from this investment.
“It closely aligns to our Growth Plan, which sets out our vision to transform our economic future.
“At the heart of our vision is the creation of 70,000 private sector jobs and 6,000 businesses over the next decade.”