News: Enterprise Zone ranked number 1 in the UK
The Sheffield city region's Enterprise Zone has taken the top UK spot in a ranking of "Global Free Zones of the Future."
The Financial Times FDi Magazine has released a Global Outlook Report, which places the Sheffield city region's Enterprise Zone in the top UK spot ahead of its nearest UK rival, Birmingham City Centre Enterprise Zone. The Sheffield city region is ranked as the 37th best place in the world for businesses to locate.
The Sheffield City Region Enterprise Zone is based on a series of key sites that will focus growth within the advanced engineering and technology sectors.
These include a number of key employment sites in Rotherham such as areas of the Advanced Manufacturing Park (AMP) and Templeborough.
Companies located in the zone are benefiting from simplified planning rules and tax breaks for businesses. One of the main benefits that the zones will offer is a business rate discount worth up to £275,000 per eligible business over a five year period.
Companies within the zone could also take advantage of enhanced capital allowances (instead of business rate discounts) for plant and machinery.
X:Cel Superturn and Sarclad Limited were the first manufacturing companies to move into the enterprise zone on the AMP.
James Newman, chairman of the Sheffield City Region LEP, said: "This news confirms what everyone has been saying, that Sheffield city region has the UK's number one Enterprise Zone for modern manufacturing and technology.
"For growing businesses looking to make significant investments in plant and machinery, our Enterprise Zone offers a package of benefits that cannot be matched – exclusive tax incentives, simplified planning, superfast broadband and excellent transport links.
"In addition it is a great opportunity to join the likes of such global manufacturing names as Rolls-Royce and Boeing in a city region that is already considered to be a global hub for modern manufacturing and technology.
"My message to any company in this sector, from the UK or overseas, is to come and visit the Sheffield city region, look at the facilities we have to offer, talk to us about the skills and supply chains we have and then invest in a city region where you will be welcomed, incentivised and encouraged to grow your business."
The Sheffield City Region Local Enterprise Partnership hope that the zone will 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.
All business rates growth within the zone for a period of at least 25 years will be shared and retained by the Sheffield City Region, to support the Local Enterprise Partnership's economic priorities and ensure that Enterprise Zone growth is reinvested locally.
Enterprise Zone website
Images: Harworth Estates
The Financial Times FDi Magazine has released a Global Outlook Report, which places the Sheffield city region's Enterprise Zone in the top UK spot ahead of its nearest UK rival, Birmingham City Centre Enterprise Zone. The Sheffield city region is ranked as the 37th best place in the world for businesses to locate.
The Sheffield City Region Enterprise Zone is based on a series of key sites that will focus growth within the advanced engineering and technology sectors.
These include a number of key employment sites in Rotherham such as areas of the Advanced Manufacturing Park (AMP) and Templeborough.
Companies located in the zone are benefiting from simplified planning rules and tax breaks for businesses. One of the main benefits that the zones will offer is a business rate discount worth up to £275,000 per eligible business over a five year period.
Companies within the zone could also take advantage of enhanced capital allowances (instead of business rate discounts) for plant and machinery.
X:Cel Superturn and Sarclad Limited were the first manufacturing companies to move into the enterprise zone on the AMP.
James Newman, chairman of the Sheffield City Region LEP, said: "This news confirms what everyone has been saying, that Sheffield city region has the UK's number one Enterprise Zone for modern manufacturing and technology.
"For growing businesses looking to make significant investments in plant and machinery, our Enterprise Zone offers a package of benefits that cannot be matched – exclusive tax incentives, simplified planning, superfast broadband and excellent transport links.
"In addition it is a great opportunity to join the likes of such global manufacturing names as Rolls-Royce and Boeing in a city region that is already considered to be a global hub for modern manufacturing and technology.
"My message to any company in this sector, from the UK or overseas, is to come and visit the Sheffield city region, look at the facilities we have to offer, talk to us about the skills and supply chains we have and then invest in a city region where you will be welcomed, incentivised and encouraged to grow your business."
The Sheffield City Region Local Enterprise Partnership hope that the zone will 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.
All business rates growth within the zone for a period of at least 25 years will be shared and retained by the Sheffield City Region, to support the Local Enterprise Partnership's economic priorities and ensure that Enterprise Zone growth is reinvested locally.
Enterprise Zone website
Images: Harworth Estates
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