Monday, May 21, 2012

News: Rotherham hosts national Enterprise Zone Conference


Sheffield City Region Local Enterprise Partnership (LEP) hosted a national event recently for city regions that have Enterprise Zones offering the Government's top level of tax incentives.

The Sheffield City Region Enterprise Zone is one of only seven zones in England able to offer enhanced capital allowances, offering up-front tax relief for major capital investments.

At the Advanced Manufacturing Park, the LEP team welcomed visitors from the seven City Regions in England that have been granted Enhanced Capital Allowance Enterprise Zones by Government which are Liverpool, Tees Valley, Black Country, North Eastern, London and Humber.

The LEP also be welcomed delegates from devolved administrations in Northern Ireland, Scotland and Wales who are keen to learn more about the progress which has been made in the Sheffield City Region. Senior civil servants from Treasury and Revenues & Customs also attended the event.

James Newman, Chairman of the Sheffield City Region LEP, said: "Since getting Government backing for our Enterprise Zone in March this year, the LEP has forged ahead to make the Sheffield City Region Zone ready to welcome significant business investment.

"In particular, the LEP has worked closely with local authority planning departments and landowners to put agreements in place to make our offer to businesses simple, consistent and highly competitive.

"We set out a clear vision for our Enterprise Zone, which is shared by our partners, to attract significant investment from modern manufacturing and technology companies, which will bring new jobs as well as economic growth.

"As a result of the LEP's work, businesses are now showing strong interest in our offer and we're looking forward to making some big announcements in the coming year."

The enhanced capital allowances are available on business investments to a total limit of £300m.

Additional incentives for smaller businesses locating in the EZ, include business rates relief, fast track planning and access to superfast broadband.

The zone is based on a series of key sites along the M1 that will focus growth within the advanced engineering and technology sectors.

It includes a core technology, innovation and manufacturing zone based around the existing Advanced Manufacturing Park (AMP) in Rotherham.

Other areas include Templeborough, Sheffield Business Park, land currently being developed at Markham Vale and sites in the west of the Dearne Valley in Barnsley at M1, Junction 36.

Sheffield city region Enterprise Zone website

Images: Harworth Estates


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