Member Article

Communities Secretary announces £120 million cash injection for Sheffield’s infrastructure

Communities Secretary Eric Pickles has announced a £120 million infrastructure investment plan to bring businesses and jobs to the Sheffield area on a visit to the local enterprise zone.

The Sheffield Enterprise Zone will turn £25 million of government funding into £94 million more of private sector investment so they can lay down the infrastructure needed for its premier sites at Markham Vale and Rotherham to attract new businesses to the area.

• £14 million will transform the site at Markham Vale, where 3 coal pits previously stood. When complete the site will bring an estimated 2,100 jobs by 2022.
• £11 million will be used to expand Rotherham’s advanced manufacturing hub by building essential infrastructure foundations for Harworth Estates’ 740 acre Waverley regeneration scheme – Yorkshire’s largest ever brownfield redevelopment. Already home to manufacturers like Boeing and Rolls-Royce, the Advanced Manufacturing Park will eventually employ a projected 3,500 workers – with 300 of those new jobs expected onsite by 2015.

This is part of £36 billion of public and private investment that could support over 150,000 jobs in construction this year and many thousands more in other sectors following completion.

Eric Pickles said: “This enterprise zone is a great example of how our economic plan is rebalancing the economy and transforming once dormant industrial sites into job creators once again.

“Today’s cash injection will help the enterprise zone pull in over 3 times as much in private sector investment, giving it the essential foundations to grow, create jobs for local people and continue the area’s proud manufacturing tradition.

The government is investing to ensure that all enterprise zones can complete critical ‘nuts and bolts’ infrastructure work that is needed to turn old industrial sites into prime economic land that can attract new businesses and job opportunities.

James Newman, chairman of the Sheffield City Region LEP, said: “This £25 million investment will help to further enhance the Sheffield City Region Enterprise Zone’s status as the UK’s number 1 place for modern manufacturing and technology.

“Since the launch of our enterprise zone in 2012, 18 new companies have located to our enterprise zone with 345 jobs already created on site and around 300 set to be created in the coming months.”

This was posted in Bdaily's Members' News section by Clare Burnett .