Firms receive biggest funding boost in UK

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Sheffield City Region has secured more than any other English region in the latest round of Government funding for Enterprise Zones.

A total of £25 million has been allocated to help small and medium sized businesses based in the Sheffield Enterprise Zone, which includes sites close to the Advanced Manufacturing Park at Waverley and Markham Vale, near Chesterfield.

That is double and treble the amount awarded to most of the 10 other zones from a total pot of £150 million, announced by Local Growth Minister Mark Prisk.

Mr 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 £230 million 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.”

Sheffield’s £25 million will go to support small and medium businesses with limited access to other funding across the Sheffield City region.

The next highest award - £18 million - goes to the East Riding of Yorkshire. Manchester gains £10 million, Leeds £5.7 million and Liverpool £5 million.