Work Underway on Mirfield M62 Enterprise Zone

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Burflex House, Clay Street, Hull, East Yorkshire, HU8 8HA E. info@burflex.co.uk

Work Underway on Mirfield M62 Enterprise Zone

Work Underway on Mirfield M62 Enterprise Zone

Work has begun on a project that could lead to the creation of 400 new jobs, Business Live reports. The commercial development in Mirfield, West Yorkshire, is just off the M62 and has been given enterprise zone status. The 15-acre site, known as Moor Park 25, is on schedule for completion in quarter three.

All five units being constructed have been pre-sold to AAA Property Group, who have already invested in the area as they expand into the industrial and logistics sector. The site, between Dewsbury and Huddersfield, is expected to provide a boost of up to £12.5 million to the local economy.

Roger Marsh OBE DL, chair of the Leeds City Region LEP and NP11, welcomes the development as the area looks to recover from the economic impact of Covid-19. He commented: “This scheme will prove to be highly attractive to businesses and investors looking to relocate to West Yorkshire.”

He continues: “The enterprise zone provides attractive opportunities to support recovery, boost local employment and increase business expansion, offering an unrivalled package of incentives, establishing Leeds City Region as a destination for growth and commercial activity.”

Enterprise Zones are designated areas across England that provide tax breaks and Government support. Businesses that locate in them are eligible for various benefits. These include up to 100% business rate discounts worth up to £275,000 per business over a five-year period.

Alternatively, 100% enhanced capital allowances (tax relief) to businesses making large investments in plant and machinery are available. Furthermore, Local Development Orders can grant automatic planning permission for certain developments, such as industrial units or changes to building use in designated areas.

Enterprise zones help to promote the development of the local economy by attracting businesses and jobs, and extra investment in infrastructure. All business rate growth generated by the Enterprise Zone is kept by the local enterprise partnership for 25 years, to reinvest in local economic growth, such as workforce skills development.

The government works across multiple departments to facilitate the delivery of Enterprise Zones. For example, the Department for Environment, Food and Rural Affairs (DEFRA) will promptly address any environmental issues, the Department for International Trade will advise on overseas marketing, and the Department of Transport will support infrastructure.

The creation of Enterprise Zones has attracted a greater level of foreign investment to England, and also created ‘centres of excellence’ in key sectors, such as life sciences, financial services, engineering, digital and creative industries, automotive, and renewable energy.

Across the Leeds City Region, there are currently 10 Enterprise Zones which encompass the Moor Park site at Mirfield. They have been developed with £45 million of Growth Deal Funding, which aims to promote advanced manufacturing growth in the region. All the sites are strategically located near to major transport junctions on the M1 and M62.

The Moor Park site is located close to Junction 25 of the M62, and the buildings will range from 19,500 to 59,000 sq ft, providing a total of 180,000 sq ft of commercial space. The work will be completed by Caddick Construction, as part of wider plans for coming years.

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