An £11m Government loan for ‘nuts and bolts’ infrastructure work will unlock the remaining land for business and housing on the Waverley site in Rotherham.
It will be used to provide sewers and drains on the Advanced Manufacturing Park’s 68 acres of commercial land and 160 acres earmarked for housing.
The loan was announced yesterday by Communities Secretary Eric Pickles on a trip to Markham Vale business park, at junction 29A of the M1 near Chesterfield.
He also re-announced a £14m grant for Markham Vale, also for infrastructure works, which are set to start next month.
Both sites are part of Sheffield City Region Enterprise Zone which offers tax breaks to investors and fast-track planning. In total it comprises more than a dozen pockets of land from Markham Vale to Barnsley, all near the M1.
The Government claims the £25m will attract £94m more of private sector investment.
Eric Pickles said: “This Enterprise Zone is a great example of how our economic plan is rebalancing the economy and transforming once dormant industrial sites into job creators once again.”
Duncan Armstrong-Payne, development manager for Harworth Estates, said “This funding is vital in accelerating the transformation of Waverley into Yorkshire’s largest-ever sustainable mixed use development.”
The AMP is already home to Boeing, Rolls-Royce, Castings Technology International, Dormer Tools, Sandvik Coromant and TWI.
James Newman, chair of the Sheffield City Region Local Enterprise Partnership, said: “This £25m investment will help to further enhance the Sheffield City Region Enterprise Zone’s status as the UK’s number one place for modern manufacturing and technology.”
Markham Vale is the site of three former coal mines. It is now Derbyshire County Council’s prime development site. Private sector development partner Henry Boot will contribute £12.5m to fund plans to expand it by 81 acres, install utilities and build 100,000sq ft of new industrial buildings.
A new £7.5m link road is expected to be funded jointly by the county council and local transport boards for Derby, Derbyshire, Nottingham and Nottinghamshire and Sheffield City Region.
Coun Joan Dixon, cabinet member for jobs, said: “The council has invested more than £60m in the Markham Vale site since it was launched in 2000 and we’re pleased the Secretary of State for Communities and Local Government has taken the time to come and see for himself the great strides we’re making in attracting business and investment to our county.”