The Aire Valley Leeds enterprise zone is a three year programme which went live in April 2012 and offers a package of incentives to stimulate the development of four key sites sites, covering a total of 142 hectares of prime development land.
All four sites at Newmarket Lane (9.2 ha), Thormes Farm (21.08 ha), Logic Leeds (49.1 ha) and Temple Green (63.04 ha) have planning consents in place for a range of employment uses including large scale manufacturing, distribution and high quality offices.
Situated along the route of the East Leeds Link Road, a £32 million dual carriageway which links Leeds city centre to junction 45 of the M1 motorway, the enterprise zone is an ideal location for manufacturing, distribution and third party logistics companies, as well as companies with significant research and development activities and those in the health technologies sector.
The enterprise zone will act as a catalyst for the regeneration of the Aire Valley Leeds which, fully developed could deliver £550m of additional economic output and over 9,500 new jobs by 2025, accessible to households across the city region.
Enterprise zones have been introduced by the UK government to encourage private sector growth by offering businesses a range of benefits such as reduced business rates and simplified planning rules.
Local enterprise partnerships will also be able to retain the additional business rates generated within the enterprise zone to fund economic development projects across the city region.
The Aire Valley Leeds was chosen as the location for the Leeds City Region enterprise zone as it demonstrated the potential to deliver significant economic growth and and access to job opportunities across a wide geographic area.
The decision was also guided by the Government’s requirement that the enterprise zones should be generally based on ‘clean sites’, available for immediate development and with few or no business occupants.
Neil McLean, chairman of the Leeds City Region LEP board, said: “The opportunity presented by the Aire Valley Leeds enterprise zone is extremely good news for the whole city region and seen by the LEP as a positive first step towards fulfilling its ambition to grow and become a world-leading, dynamic economy.”
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