Tuesday, March 11, 2014

News: Dinnington site added to Enterprise Zone


Development land in Dinnington in Rotherham is set to become even more attractive to relocating firms after it was announced that it will form part of the expanded Sheffield City Region Enterprise Zone (EZ).

The Sheffield City Region Enterprise Zone is based on a series of key sites that focuses growth within the advanced engineering and technology sectors.

The Sheffield City Region Local Enterprise Partnership (LEP) has announced plans to increase its size by almost a half with new designated areas in Sheffield, Barnsley, Markham Vale and at Doncaster Sheffield Airport.

The EZ already includes a number of key employment sites in Rotherham such as areas of the Advanced Manufacturing Park (AMP) and Templeborough and now 15 hectares at Dinnington has been added.

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.

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 LEP's economic priorities and ensure that Enterprise Zone growth is reinvested locally.

Local leaders and Government officials began negotiating the expansion after it was revealed that the proposed High Speed Rail route impacts significantly on a number of key strategic sites which have Local Enterprise Zone status, placing uncertainty and blight on these key development locations.

The greatest impacts are likely to be on eight of the original 12 sites designated for Enhanced Capital Allowances (ECAs) (offering up-front tax relief for major capital investments).

James Newman, chairman of Sheffield City Region LEP, said: "Since the launch of our Enterprise Zone in 2012, 18 new companies have located on our Enterprise Zone with 345 jobs already created on site and around 300 set to be created in the coming months.

"Businesses have been attracted to join our modern manufacturing and technology community which offers outstanding transport connectivity, a highly-skilled talent pool and the best UK Government tax incentives available.

"Now that our expansion has been confirmed, the LEP will be working closely with partners to ensure that the new sites can boast our full package Enterprise Zone benefits including simplified planning, superfast broadband and global promotion at international events."

Local Growth Minister Kris Hopkins, added: "The Sheffield City Region Enterprise Zone is creating a world class centre for modern manufacturing and technology.

"Expanding the Enterprise Zone will help to grow a community of world class businesses, which already boasts names like Rolls-Royce, Boeing and Firth Rixson and bring more investment, jobs and a boost to the Sheffield City Region economy."

The successful regeneration of the former colliery in Dinnington has transformed it into a thriving business location, home to the likes of Macalloy, Johnston Press, Assured Fire & Security and Connexion2. It also home to a new breed of enterprise at RiDO's Matrix Business Centre.

Work began in 2000 on the £14m reclamation project which saw the 85 hectare site eventually developed to provide ares for industrial, business and mixed use and large areas of Urban Green Space.

The Homes and Communities Agency (HCA) took over the responsibility for the remaining 17.56 hectares of employment development land on the site. It is the second phase of the regeneration of 34 hectares that has already created over 40,000 sq m of employment space.

The HCA took ownership of the site following the demise of Yorkshire Forward. It estimates that 620 jobs have been created so far and expects 2,408 jobs to be created as the scheme progresses.

Sheffield City Region Enterprise Zone website

Images: William Saunders


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