News: Gateway to the Sheffield City Region secures RGF funding
Doncaster Council and its private sector partners have secured £18m from the government's Regional Growth Fund to progress The Gateway to the Sheffield City Region project.
The scheme will provide a major boost to economic growth across the region and act as a catalyst for attracting investment and creating long term job opportunities and includes the Finningley and Rossington Regeneration Route Scheme (FARRRS) and improvements to the M18 around Junction 3.
It is expected to open up development sites around the Robin Hood Airport Doncaster Sheffield Airport (DSA) and HelioSlough's proposed inland port development at Rossington. It is estimated that the infrastructure will unlock 344 hectares of development opportunities with the potential to create £1.5 billion investment from the private sector. It is hoped that this would see over 20,000 jobs created over 15 years.
Details of the bid have not been released but it is thought to be a £60m scheme with the Regional Growth Funding used as a loan to facilitate the construction programme. £40m will be repaid by the private sector and local transport funding will also be used.
Doncaster Council have also submitted a bid to secure European Regional Development Funding to support a project to widen the White Rose Way.
Nigel Brewster, president of Doncaster Chamber and board member of the Sheffield City Region Local Enterprise Partnership Board said: "The LEP Board was pleased to endorse this Regional Growth Fund bid and is now delighted at its success.
"Improving access to the airport will have a transformative effect on the whole City Region and the significance of this announcement cannot be overstated. We must now capitalise on this excellent news by encouraging more local businesses to trade internationally and also by encouraging new investors to locate on the airport business park and other key sites within the City Region that can equally take advantage of the airport.
"The LEP itself is only a few months old and we are pleased to chalk this up as an early win. We will retain an active interest in the roll out of this scheme and work with partners to champion its timely delivery for the benefit of the City Region's businesses. One of our key objectives is to create significant positive momentum for economic growth in the area - this is an early sign that we are achieving that."
Craig Richmond, CEO Peel Airports Ltd, added: "This is tremendous news and will help to bring this vital link between the motorway network and the airport one step nearer and benefiting the future potential for growth in both passenger and freight services at Doncaster Sheffield Airport. This scheme is important not only for the future of the airport but also for the Doncaster Sheffield Airport Growth Corridor and should produce thousands of jobs."
A planning application is expected to be submitted by the end of the year and subject to securing the private sector contribution, the scheme could start summer 2012.
21 bids were submitted from the Sheffield City Region to the Regional Growth Fund with the Local Enterprise Partnership Board endorsing bids for FARRRS, Chesterfield Waterside, Markham Vale and the Barnsley Dearne Employment and Housing Growth Initiative.
Sheffield-based Capital for Enterprise Limited also secured funding from the government's £1.4bn fund. The company advises the government on the design, implementation and management of finance measures to support small and medium sized enterprises (SMEs) across the UK.
The scheme will provide a major boost to economic growth across the region and act as a catalyst for attracting investment and creating long term job opportunities and includes the Finningley and Rossington Regeneration Route Scheme (FARRRS) and improvements to the M18 around Junction 3.
It is expected to open up development sites around the Robin Hood Airport Doncaster Sheffield Airport (DSA) and HelioSlough's proposed inland port development at Rossington. It is estimated that the infrastructure will unlock 344 hectares of development opportunities with the potential to create £1.5 billion investment from the private sector. It is hoped that this would see over 20,000 jobs created over 15 years.
Details of the bid have not been released but it is thought to be a £60m scheme with the Regional Growth Funding used as a loan to facilitate the construction programme. £40m will be repaid by the private sector and local transport funding will also be used.
Doncaster Council have also submitted a bid to secure European Regional Development Funding to support a project to widen the White Rose Way.
Nigel Brewster, president of Doncaster Chamber and board member of the Sheffield City Region Local Enterprise Partnership Board said: "The LEP Board was pleased to endorse this Regional Growth Fund bid and is now delighted at its success.
"Improving access to the airport will have a transformative effect on the whole City Region and the significance of this announcement cannot be overstated. We must now capitalise on this excellent news by encouraging more local businesses to trade internationally and also by encouraging new investors to locate on the airport business park and other key sites within the City Region that can equally take advantage of the airport.
"The LEP itself is only a few months old and we are pleased to chalk this up as an early win. We will retain an active interest in the roll out of this scheme and work with partners to champion its timely delivery for the benefit of the City Region's businesses. One of our key objectives is to create significant positive momentum for economic growth in the area - this is an early sign that we are achieving that."
Craig Richmond, CEO Peel Airports Ltd, added: "This is tremendous news and will help to bring this vital link between the motorway network and the airport one step nearer and benefiting the future potential for growth in both passenger and freight services at Doncaster Sheffield Airport. This scheme is important not only for the future of the airport but also for the Doncaster Sheffield Airport Growth Corridor and should produce thousands of jobs."
A planning application is expected to be submitted by the end of the year and subject to securing the private sector contribution, the scheme could start summer 2012.
21 bids were submitted from the Sheffield City Region to the Regional Growth Fund with the Local Enterprise Partnership Board endorsing bids for FARRRS, Chesterfield Waterside, Markham Vale and the Barnsley Dearne Employment and Housing Growth Initiative.
Sheffield-based Capital for Enterprise Limited also secured funding from the government's £1.4bn fund. The company advises the government on the design, implementation and management of finance measures to support small and medium sized enterprises (SMEs) across the UK.
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