8,000 new jobs created by Enterprise Zones in the Northern Powerhouse

Over the past four years, Enterprise Zones in the Northern Powerhouse have created over 8,000 jobs.

Enterprise Zones in the North, which provide tax breaks and government support for new and growing businesses, have reportedly generated 8 jobs per working day since 2012 and over £1m per day in private investment.

New figures launched today (27 July 2016) show, in the 3 months to December 2015, 1,220 jobs were created on northern Enterprise Zones which is an 18% increase compared to the previous quarter.

This rise in jobs were mainly due to 30 new companies choosing to expand on northern Enterprise Zones.

Andrew Percy, Northern Powerhouse Minister, said: “From Siemens in East Yorkshire to GE on Tyneside, the Northern Powerhouse is attracting some of the world’s leading businesses to locate here and offer skilled jobs.

“Today’s figures make clear the real appetite to invest and do business in the North, with over 8,000 jobs over the last 4 years, thanks in no small part to the high quality local support on offer to new and growing companies.

“So I am especially pleased that Barclays has become our latest Northern Powerhouse Partner, and would urge all companies across the Northern Powerhouse to do all they can to promote our area as a place where businesses can thrive and grow.”

There are now 14 Enterprise Zones across the Northern Powerhouse, which offer a range of support to businesses located there.

These include a business rate discount worth up to £275k per business over a 5-year period, a capital allowances (tax relief) worth millions to businesses making large investments in plant and machinery, and a 100% retention of business rate growth for the Local Enterprise Partnership, to enable them to fund development on the Enterprise Zone.

Among the major successes from Northern Powerhouse enterprise zones is The Sheffield City Region Enterprise Zone, which has already attracted global businesses including Boeing, Siemens and Rolls Royce.

The Humber Enterprise Zone also saw Siemens invest £310m in the new Blade Manufacturing Plant, and Sci-Tech Daresbury recently reported that sales by companies grew by a quarter during 2015 – generating £90m.

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