£365k grant to help York Central deliver 7,000 new jobs and 2,500 new homes

£365k of Government funding has been awarded to City of York Council to assist in the delivery of York Central, a Housing Zone and an Enterprise Zone which aims to create 7,000 new jobs, up to 120,000 sq m of office space and up to 2,500 new homes.

York Central was identified as a Housing Zone in April 2015 and this funding will add to the £355k set aside by the council in December to progress the next development stage.

The city’s Enterprise Zone, located next to York station, will focus on rail, engineering and professional services, extending the central business district of York, developing the area around the station and aligned to the development of a neighbouring Housing Zone.

The council will use the £365k grant to help fund the delivery team and undertake further technical assessments to ensure the project makes progress whilst a partnership is being shaped with Network Rail, the NRM and the Homes and Communities Agency (HCA).

The HCA has also earmarked £9.4m of equity investment to the site. In addition, the partnership is also attempting to secure funding to invest in the infrastructure required to acquire the 72 hectare site which wasn’t flooded in the recent events.

Work continues between council, Network Rail, the NRM and the HCA to develop a planning framework.

The Enterprise Zone status means that half of business rates generated from the site will be retained in the area for 25 years following completion. Businesses moving to York Central will also get business rate relief for the first five years, providing an incentive for inward investment and business growth

It is estimated that this could help create up to 7,000 jobs in the city, and over £1.1bn value for the region’s economy. The jobs created would be high-value office based jobs, helping to grow York’s economy by an estimated 20% and would increase average wages in the city.

The Enterprise Zone status will also support the infrastructure for housing elements of the site, helping to create much-needed new homes on brownfield land and protect the greenbelt.

Cllr Chris Steward, Leader of City of York Council, said: “This funding brings a significant boost to support work to ensure this vital scheme’s progress and success. It will provide capacity to undertake the huge amount of detailed work that needs to happen to ensure that we deliver York Central and the vital jobs and homes that this will bring.”

Cllr Keith Aspden, Deputy Leader of City of York Council and Executive Member for Economic Development, added: “As we prepare to launch a full public consultation this month, this is a vote of confidence in this substantial scheme which stands to benefit our communities and transform our local economy.”

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