LEP launches incentive drive

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Plans for a £300 million initiative, designed to attract firms to the Sheffield City Region, have been unveiled to an audience of international property experts and investors at the world’s largest property event.

Sheffield City Region Local Enterprise Partnership chairman James Newman outlined the package of tax incentives at the annual MIPIM property event, held in the French city of Cannes.

The incentives are designed to encourage manufacturers to make substantial investments in plant and machinery in the new Enterprise Zone, which is being set up in the hope of creating a Modern Manufacturing and Technology Growth Area, alongside the M1 Motorway.

Mr Newman said: “We hope that these incentives will attract investment from global advanced manufacturing and technology companies, creating hundreds of jobs for local people.”