Leeds Enterprise Zone is gearing up to become one of the country’s premier locations for engineering and modern manufacturing thanks to millions of pounds of government funding, Local Growth Minister Penny Mordaunt has announced.
The Minister visited the enterprise zone to see how £8.57 million of Government investment is being used to improve infrastructure, unlock development and pave the way for thousands of new jobs for the region.
It comes just days after the Autumn Statement in which the Chancellor announced that up to £25 million would be spent upgrading nearby junction 45 of the M1, significantly improving access to the zone and providing a boost to the local construction sector.
Local Growth Minister Penny Mordaunt said: “Leeds Enterprise Zone is really starting to take shape and everything I’ve seen today tells me it’s going to be a great success.
“Companies can have every confidence that this is a world-class facility and we are investing millions to ensure they have infrastructure in place to grow their business.
“It’s all part of our long-term economic plan to create a northern powerhouse that drives forward local economies, create jobs and delivers real benefits to hard-working people.”
Covering 142 hectares of prime development land, the enterprise zone is already home to a number of well-established companies, including Roberts Mart, one of the UK’s largest packaging manufacturers, floor covering manufacturer Mercado and branded foods manufacturer Symington’s.
The government opened the zones in April 2012 as part of a 25-year project to rebalance the economy, offering tax incentives, simplified planning and super fast broadband to companies. Latest figures show they have created 12,530 jobs, attracted 434 new businesses and generated over £2 billion worth of private investment.
Roger Marsh, Chair of the Leeds City Region Enterprise Partnership, said: “There has been significant progress on the Leeds City Region Enterprise Zone this year and I am pleased government has recognised the hard work and commitment from our public and private partners.
“We will continue to explore new opportunities for further development and promote the scale of opportunity this major investment location brings the City Region and the entire country.”