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Sheffield Enterprise Zone big draw for inward investment

Posted on 2 September 2013 · Posted in News

Sheffield City Region Enterprise Zone is paving the way for Yorkshire to be at the forefront of the UK’s industrial and entrepreneurial development.

The Zone has been highlighted in a national report by UK Trade and Investment for attracting foreign investment, particularly within the automotive industry.

Since April 2012, the Enterprise Zone has attracted 15 new businesses and created 228 new jobs, who are benefitting from inward investment.

According to business advisory firm Deloitte, Sheffield is leading by example with the services sector accounting for the highest number of projects receiving inward investment.

Overall Enterprise Zones have attracted £225 million in inward investment.

Deloitte suggests the rest of the country can learn a lot from these success stories.

Nick Marsden, International and Corporate Tax Partner at Deloitte in Leeds, said:

“Sheffield has rapidly become a coveted area for inward investment. It is a top choice for foreign investors wishing to strategically grow their assets here in the UK. The growing ‘Made in Sheffield’ brand is something to be proud of and is a testament to the region’s hard-working business people.

“Yorkshire has core sector strengths in advanced manufacturing and engineering, creative and digital industries and business services, all of which have been identified in the report as being boom areas for the country – the region is clearly playing a part in improving the economy of the nation.”

Kate Powell, Director of South Yorkshire at Deloitte, added:

“Sheffield is going from strength to strength and is worthy of the report’s praise – it ticks all the boxes. It’s at the heart of key road and rail networks and there are two excellent universities here – talent is right on the doorstep.

“Businesses need to keep this up and look to attract further investment to the City Region to grow economic activity and jobs further.”

For more information on Sheffield City Region Enterprise Zone see: http://www.sheffieldenterprisezone.co.uk/.