Jobs bonanza as Enterprise Zone approved

THOUSANDS of jobs and hundreds of new businesses are set to be created in South Yorkshire after proposals for an Enterprise Zone were given the go-ahead by Government.

Sheffield City Region Local Enterprise Partnership (LEP) heard today that its proposal for a zone focused on growth within the advanced engineering and technology sectors has been approved.

The Modern Manufacturing and Technology Growth Area (MMTGA) will be made up of several key sites linked by the M1 corridor, which are still subject to detailed discussions with Government, but which include the Advanced Manufacturing Park at Waverley.

The MMTGA is expected to create 12,600 jobs and attract around 250 new advanced manufacturing and technology-based businesses to the City Region by 2015—potentially rising to 20,000 jobs when the Zone is fully developed.

James Newman, Chairman of the LEP, said: “Enterprise Zone status represents a significant long-term investment in the Sheffield City Region’s economy, and we’re delighted to receive Government-backing for our proposal.”

Enterprise Zone status will see the area benefit from a range of measures including rate relief, the relaxation of planning rules and super-fast broadband - creating the conditions for business to thrive.

Starting from April 2012, the MMTGA will bring forward 400,600 square metres of development land by 2015, increasing to 600,000 when fully developed.