Director of City Development at Leeds City Council, Martin Farrington, has today confirmed whilst at MIPIM that the council’s Executive Board has approved the establishment of the Aire Valley Leeds enterprise zone, which comes into operation from the beginning of April 2012.
Speaking ahead of tomorrow’s keynote breakfast briefing on Incentives for investment and growth across the Leeds City Region, he outlined benefits that will be available to companies locating in the enterprise zone.
Companies locating in the enterprise zone include business rate relief, simplified planning and high speed broadband.
The amount of business rate relief offered will be the full business rates up to a maximum of £55,000 per year. The relief will be awarded for a period of five years from the date of entry into the zone, provided that this is before 1st April 2015.
The zone is also set to benefit from a £2.5m investment for Muse Developments to deliver the spine road that will open up and accelerate the development of the 49 hectare Logic Leeds site. The road will be funded from growth in business rates generated through the enterprise zone. Muse Developments anticipates a start on site at Logic Leeds in summer 2012.
Martin Farrington, Director of City Development at Leeds City Council said proposals for the enterprise zone had received unanimous, all party support: “The enterprise zone enjoys superb transport links and benefits from close proximity to Leeds City Centre, the main driver of the economy. It is an ideal location for companies in healthcare, low carbon manufacturing, renewable energy, waste management, logistics and distribution.
“The early infrastructure work is well underway with the East Leeds link road now complete and the addition of the new link to the Logic Leeds site as well as business rate relief will deliver lasting benefits for the regional economy.”
Martin will join Neil McLean, chair of the Leeds City Region local enterprise partnership on the panel at tomorrow’s breakfast briefing in MIPIM. Other speakers include Matt Crompton, joint managing director of Muse Developments, Barra MacRuari, strategic Director for Regeneration, Bradford City Council and Stephen Kennard, Director of Land and Development at London Development Agency.
The event will highlight major opportunities for investment and development across the city region and included a keynote address from Neil McLean. The event is supported by Muse Developments with Evans Property Group and Keyland, major developers and landowners within the enterprise zone.
The enterprise zone will come into operation on 1st April 2012 for a period of three years and incorporates four major development sites within the wider Aire Valley Leeds regeneration area. It is expected to deliver 3,000 new jobs over the next three years.
Together the sites provide 142 hectares of development land suitable for industrial and distribution, high quality office and research & development uses.
Leeds City Council has also confirmed that it has approved a local development order (LDO) to give planning permission for the installation of roof-mounted solar panels on non-domestic buildings. This will apply to buildings within the area covered by the Aire Valley Leeds Area Action Plan and Urban Eco Settlement.
This LDO is likely to have a positive impact on regeneration through encouraging uptake in micro renewable technology, which will help to lower business running costs and lower greenhouse gas emissions.
The LDO specifically excludes installation of solar panels affecting listed buildings and conservation areas.
The Leeds City Region will also host an event in MIPIM later today setting out opportunities linked to the large casino licence. Leeds is the largest of eight authorities in the UK to be granted a large casino licence and the opportunity is already attracting widespread interest from developers.
