Friday, July 29, 2011

News: Minister launches Enterprise Zone in Rotherham


Communities Secretary Eric Pickles MP was in Rotherham this week to announce a new Enterprise Zone for the Sheffield City Region.

The Modern Manufacturing and Technology Growth Area (MMTGA) will be made up of several key sites linked by the M1 corridor.

The ministerial visit took place on the Advanced Manufacturing Park (AMP) in Rotherham, which was named in the proposal submitted by the Sheffield City Region Local Enterprise Partnership (LEP) in June.

The Communities Secretary, Eric Pickles, said that the city region had the pedigree to accelerate growth and create thousands of new jobs and added: "Our low-tax, low-regulation Enterprise Zones will help make our country the best place in Europe to start and grow a business.

"With ten more Enterprise Zones still to come it's great to see the local ambition and innovation that emerges when central Government steps back and gives local areas the chance to shape their own economy."

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, showed the minister around the UK's premier advanced manufacturing technology park and highlighted the University of Sheffield Advanced Manufacturing Research Centre (AMRC) with Boeing. He 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.

"To create jobs and economic growth, there needs to be investment in the sectors which present the biggest economic opportunity, and that's exactly what the Modern Manufacturing and Technology Growth Area will provide.

"It will build upon and accelerate the development of modern manufacturing in the Sheffield City Region, which already has one of the largest concentrations of this industry in the UK."

Specific sites within the zone are still subject to detailed discussions with Government but from April 2012, the MMTGA will bring forward 400,600 sq m of development land by 2015, increasing to 600,000 sq m when fully developed.

It will benefit from simplified planning rules and tax breaks for businesses and is expected to unlock almost £20m worth of Business Rate growth which will be re-invested back into the Sheffield City Region to drive further economic growth.

Advanced Manufacturing Park website
Sheffield City Region website

Images: AMRC


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