Funding for the Sheffield retail quarter regeneration scheme and two Enterprise Zones were among the highlights of the budget for Yorkshire and Humber region.
Chancellor George Osborne confirmed that two of the first 10 Enterprise Zones – which benefit from, among other things, reduced business rates and eased planning restrictions - will be located in Yorkshire and Humber, led by the Sheffield City Region and Leeds City Region Local Enterprise Partnership (LEPs).
He also confirmed the creation of the High Value Manufacturing Technology and Innovation Centre, a network of existing high performance centres, including the Advanced Manufacturing Research Centre and the Nuclear Advanced Manufacturing Research Centre, both based in Rotherham, enabling businesses access to state-of-the-art equipment and technical skills.
The University of Huddersfield meanwhile is one of nine new university-based Centres for Innovative Manufacturing that will be funded by 2012.
Regional projects supported in the budget include:
- Intercity Express Programme - the £4.5bn Intercity Express Programme will see the building of a combination of around 100 electric trains and bi-mode intercity trains, which will run to East Coast Main Line stations such as York and Doncaster
- Sheffield retail quarter regeneration scheme - the revised scheme which will contain around 50 retail units, a cinema, numerous dining facilities and a 1,200 space parking facility