South Yorkshire has been designated the UK’s first Investment Zone, marking a significant step in the government’s ambitious plan to boost economic growth and job creation in the region.
The groundbreaking scheme is expected to generate approximately 8,000 new jobs and attract £1.2 billion of private investment by 2030. Leading the way in this innovative endeavour is the £80 million Boeing-led aviation research project, known as COMPASS. The initiative will focus on developing sustainable lightweight structures for airplanes and will be an extension of the University of Sheffield Advanced Research Centre Factory 2050 project.
The South Yorkshire Mayoral Combined Authority (SYMCA) and local councils will collaborate to support and implement the Investment Zone. Mayor Oliver Coppard of South Yorkshire expressed pride in the region’s technological prowess and its history of delivering practical solutions to significant challenges, from the production of stainless steel and coal industry to the present focus on AI, robotics, and Jet Zero materials. He emphasised the importance of the new Investment Zone status, demonstrating their capabilities in advanced manufacturing.
The Investment Zone scheme is set to encompass 12 zones across the UK, centred around universities and high-growth industries. Though the primary COMPASS project will be based in Sheffield, it will later expand to include Rotherham town centre, as well as incorporate Opportunity Sites in Barnsley and Doncaster.
During a recent meeting of Doncaster Council, Deputy Mayor Councillor Glyn Jones discussed the plan ahead of its official launch and confirmed Doncaster’s active participation. He assured that Doncaster is working closely with SYMCA to bring elements of the Investment Zone initiative to the town. The council is actively putting forward several sites for consideration and will strive to ensure that Doncaster receives its fair share of the benefits.
Doncaster Mayor Ros Jones expressed enthusiasm, stating that the city is well-prepared to capitalize on the opportunities presented by being a part of the Investment Zone. With four large employment sites offering excellent connectivity and already designated in their Local Plan, Doncaster is ready to seize the advantages that the Investment Zone will bring to the region’s economic prosperity and growth.
Based in Armthorpe, George Viola is the Senior Editor at City of Doncaster News. Previously he has worked for The Huffington Post.
