Leeds City Region has secured a second Enterprise Zone
26 Nov 2015
We submitted a robust and strong case to government for a second Enterprise Zone in the Leeds City Region in September this year and I am delighted to announce this successful bid is one of the 26 new Enterprise Zones announced by the Chancellor yesterday in the Comprehensive Spending Review.
The advanced and innovative manufacturing opportunities along the M62 corridor give us a unique offering to potential investors and businesses looking to benefit from the advantages of locating on an Enterprise Zone. With the Leeds City Region boasting the largest concentration of manufacturing businesses anywhere in the country, these sites will support the wider manufacturing and logistics sector with up to 100% business rate discount or 100% Enhanced Capital Allowances to businesses making large investment on qualifying plant and machinery costs.
This announcement builds on the City Region’s already robust offering of business locations which includes our existing Enterprise Zone on the Aire Valley that was recently announced as the location for the new state of the art John Lewis Partnership distribution hub and the Bradford City Centre Growth Zone which recently welcomed the arrival of The Broadway shopping centre by Westfield.
We expect the latest Enterprise Zone incentives to commence from 2017 and that these will accelerate the delivery of over 100 new or expanded businesses in the region, resulting in the creation of 12,000 new jobs.”
I’m also delighted to see that this latest round of Enterprise Zone announcements included one of our Big Six investment opportunities, York Central, and I hope that this status will help to deliver this fantastic brownfield site that could add £1.1 billion value to the region's economy.