Sheffield City Region is getting a multi-million pound cash injection designed to spur the creation of thousands of jobs, communities secretary Eric Pickles will announce today.
The Region’s Enterprise Zone is getting a cash injection of up to £14.2 million to help create 2,100 jobs.
Meanwhile, Sheffield’s two universities will be able to bid for a share of a £15 million fund to set up special University Enterprise Zones.
The £14.2m for the Enterprise Zone will be used to speed the building of new access roads to part of the Zone at Markham Vale, beside junction 29a of the M1.
It will unlock 33 hectares, or nearly 82 acres, of land and help to bring in £95.7m of private sector investment, says the Government.
The announcement comes days after Local Growth Minister Kris Hopkins announced a £1.8m injection of Government cash to help Sheffield Business Park, which is also part of the Zone, to expand and attract new inward investment.
Sheffield City Region Local Enterprise Partnership chairman James Newman said the Government decision would be welcomed by international investors looking to set up in the City Region.
“This important funding will enable us to meet investor demands by making improvements to our Enterprise Zone at Markham Vale, including medium-sized business units and developing larger areas for bigger investors,” he said.
“Improvements at Markham Vale will help us to build on the success of our Enterprise Zone, which in its first year attracted 15 new occupiers, created 228 new jobs.
Mr Pickles said: “We are backing business and enterprise right across the country, helping town centres and local industries to prosper, and building a stronger economy.”