Sheffield’s Enterprise Zone has been rated the best place for business to locate in the UK and among the top 40 places in the world.
The zone, which takes in sites in Sheffield, Rotherham and Derbyshire, has been awarded the top spot by FDi Magazine, a Financial Times specialist publication which assesses opportunities for foreign direct investment.
More than 600 ‘free zones’ in 120 countries across the world were assessed as part of Fdi Magazines’ Global Free Zones of the Future publication.
Researchers looked at the incentives and facilities the zones could offer, their cost-effectiveness as locations, transport links and the way they promoted themselves to potential investors.
James Newman, Sheffield City Region local enterprise partnership chairman, said: “This news confirms what everyone has been saying, that Sheffield City Region is the UK’s number one Enterprise Zone for modern manufacturing and technology.
“For growing businesses looking to make significant investments in plant and machinery, our zone offers a package of benefits that cannot be matched, including exclusive tax incentives, simplified planning, superfast broadband and excellent transport links.
“In addition, it is a great opportunity to join the likes of such global manufacturing names as Rolls-Royce and Boeing in a city region already considered to be a global hub for modern manufacturing and technology.”
“My message to any company in this sector, from the UK or overseas, is to come and visit the Sheffield City Region, look at the facilities we have to offer, talk to us about the skills and supply chains we have and then invest in a City Region where you will be welcomed, incentivised and encouraged to grow your business.’’
The Sheffield City Region zone is one of only seven zones in England able to offer enhanced tax relief for major capital investments and additional incentives for smaller businesses.
Incentives include business rates relief, fast-track planning and access to superfast broadband.