Member Article

Leeds enterprise zone open for business

The Aire Valley Leeds Enterprise Zone has been launched by Leeds City Region LEP in partnership with Leeds City Council.

Covering over 142 hectares, the zone is expected to deliver up to 7,000 jobs and £550m of additional economic activity by 2025.

Located along the route of the East Leeds Link Road, it will provide companies based there with a package of incentives, including reduced business rates worth up to £275,000 over a five year period, fast track planning and an intensive business support programme.

Four sites make up the zone, including Newmarket Lane, Thornes Farm, Logic Leeds and Temple Green.

All are ready for development and have planning consents in place for a range of employment uses, including large-scale manufacturing, distribution and high quality offices.

Neil McLean, Chair of the Leeds City Region LEP said: “The launch of the enterprise zone is a milestone for the local enterprise partnership and will significantly improve our national and
international investment offer.

“The opportunity presented by the EZ to retain business rates mean that we can invest more money across the city region to address important issues such as improving skills levels and creating better job opportunities.”

Some negotiations are underway with businesses located within the area of the enterprise zone, who are looking to expand operations, and with potential occupiers looking to relocate to the enterprise zone.

There are also plans to develop an advanced medical park, to build on the city’s healthcare strengths.

Cllr Keith Wakefield, Leader of Leeds City Council said: “This is an exciting day for Leeds and for the whole of the Leeds City Region.

“The enterprise zone will provide a focus for businesses and a powerful incentive for them to invest in this region.

“It is the culmination of years of hard work, dedication, planning and cooperation between all the local authorities involved and the business community.

“We should be very proud of what we have achieved together and look forward with
confidence to a development which will bring jobs to local people and help to regenerate the entire region.”

The development of a new spine road aims to accelerate development of the 49 hectare Logic Leeds site, and will be facilitated through £2.5m funding from Leeds City Council.

David Wells, Development Director, Muse Developments said: “The Aire Valley Leeds enterprise zone is well ahead of the game.

“The £2.5 million investment by Leeds City Council into the new spine road will enable us to deliver bespoke business premises, designed to the highest specification within an accelerated time frame to become one of the UK’s premier business locations.

“Benefiting from excellent transport links and close proximity to the M1 and Leeds City Centre, Logic Leeds will provide an ideal location for companies in healthcare, low carbon manufacturing, renewable energy, waste management, logistics and distribution.”

This was posted in Bdaily's Members' News section by Tom Keighley .