Government invest in Enterprise Zone building

Published 10th June 2013 at 10:23am

Two Sheffield City Region Enterprise Zone landowners are set to benefit as the Government increases its infrastructure investment in Enterprise Zones. This move will further strengthen the Enterprise Zone’s ability to attract business and create hundreds of local jobs.

James Newman, Chairman of the Sheffield City Region Local Enterprise Partnership (LEP), said,

“The LEP welcomes news that both Sheffield Business Park and Harworth Estates bids for Government Local Infrastructure Funding (LIF) have been given the go-ahead.

“This money 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.

“Key infrastructure, including roads and drainage will be funded as a result of the successful bids – removing barriers to development and helping to make our Enterprise Zone even more attractive to investors by opening up sites with proven market demand.

“I urge Government to ensure that loan funds from LIF are made available as quickly as possible to ensure the continued success of our Enterprise Zone, which in its first year has attracted 15 new occupiers and created 228 new jobs.”

“The LEP will continue to support Harworth Estates and Sheffield Business Park as their bids with Government progress.”

Pickles and Newman

Pickles and Newman

Eric Pickles said:

“Enterprise Zones are stimulating job creation and economic growth in different parts of the country with their special package of incentives to attractive new business ventures.

“The Government is putting its money where its mouth is and making sure Enterprise Zones have the buildings and infrastructure they need to make sites ready for business to set up in.

“Enterprise Zones are proving extremely popular with business – they have already created over 3,000 jobs for local people – a 75% increase in just five months – and many more will be coming down the pipeline because of this new support.”

Andy Rose, Chief Executive at the HCA, which is administering the fund, said:

“The response from the Enterprise Zones to this investment opportunity demonstrates just how crucial upfront infrastructure is to development. It is great news that this additional investment means more priority sites can be funded than first thought, creating more jobs in the areas that need them. We will now work with partners to refine the bids and ensure the investment is helping to maximise economic growth in local communities.”