PLANS to create thousands of jobs and attract hundreds of new businesses to Sheffield and the surrounding region have been given the go-ahead.
The Treasury has given the green light to the proposals from the Sheffield city region local enterprise partnership to set up what are effectively three new Enterprise Zones, offering firms tax incentives, relief on their rates and fast-track planning approvals.
James Newman, LEP chairman, said; “It is great news for our zone that, after detailed negotiations with the Government, we have got a flexible package of benefits for the region.’’
“The LEP has worked closely with many partners to secure this package of incentives, which will bring substantial manufacturing and technology investment to the region, creating economic growth and, over time, thousands of jobs.”
LEP members hope the three-site zone will create a modern manufacturing and technology growth area on both sides of the M1 between Chesterfield and Barnsley.
More than 20 individual sites make up the enterprise zone - six are in the Dearne Valley close to Junction 36, near Barnsley, a further 16 are between Sheffield and Rotherham, around Junctions 33 and 34, and two more are close to Junction 29a, near Chesterfield.
Companies moving to 15 of the sites will benefit from business rate relief, while a further nine sites around the Advanced Manufacturing Park at Waverley, Outokumpu’s plant in Tinsley and two sites at Markham Vale and Staveley will offer companies enhanced capital allowances, to encourage investment in plant and equipment.
Additional incentives, including business rates relief, fast-track planning and access to superfast broadband will be available to smaller firms setting up in one of the zone areas from next month.
n For details, see www.sheffieldenterprisezone.co.uk