City business leaders have praised Sheffield Council for signing a 60-year investment deal with a Chinese firm.
The authority announced the partnership with Sichuan Guodong Construction Group last week after months of negotiations. It will be worth more than £220m over the first three years alone.
Among those to welcome the deal was executive director of Sheffield Chamber of Commerce and Industry Richard Wright.
He said: “This is the result of long hard work by the city council and other individuals and the whole region should applaud them for that.
“These investments recognise that the city and its region are becoming a great place to invest and have the potential of being a game changer for Sheffield.
“It’s not just the money, which is huge, but it’s a statement of faith in our potential and should remove years of scepticism in one stroke.”
Rob Darrington, partner in Commercial Property Partners, said: “As a city we have received significant international investment of late, including £20m from Metro for the Digital Campus development that my firm is involved with.
“Such deals will continue to drive inward and international investment, driving jobs and boosting the regional economy. We look forward to hearing more from the council about where the investment will be going and working to position Sheffield on both the national and international stage.”
And Sheffield Business Improvement District manager Diane Jarvis said: “The lasting legacy of the scale and duration of the investment together with the huge potential for new jobs will reach far beyond today’s generation.
“Amongst our businesses I am sensing an increasing optimism about the city centre.
“The development of The Moor and the plans for the Retail Quarter, and now this announcement, is really positive news for the entire Sheffield City Region and the Government’s ‘Northern Powerhouse’.”
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