Support for ambitious investment
To encourage investment by innovative manufacturing and technology firms in the Sheffield City Region Enterprise Zone, a package of financial, planning and support incentives has been put in place. These include valuable capital allowances and Business Rate Relief schemes on discrete sites, as well as simplified planning procedures and infrastructure developments to provide widespread access to super-fast broadband.
The Enterprise Zone Incentives available in the region are:
Sites suitable for major capital investment are offering 100% Enhanced Capital Allowances to firms making significant investments in plant and machinery.
Small and medium-sized businesses can qualify for Business Rate Relief worth up to £275,000 over a five-year period when they move on to selected sites.
Certain categories of development in the modern manufacturing and technology sector can access simplified planning procedures, while super-fast broadband is becoming available region-wide.
The Sheffield City Region RGF bid has been successful and we have been conditionally awarded £25 million from the regional growth fund. Business investment RGF applications connected to Enterprise Zone sites will be fast-tracked. Full applications for Enterprise Zone sites applications can be submitted before 31st January 2013.