UK's third Investment Zone launched in West Yorkshire

A new Investment Zone has been launched in West Yorkshire, focussing on Huddersfield, Bradford and Leeds.

It is hoped the UK's third Investment Zone will create more than 2,500 new jobs over five years across the region and unlock over £220 million of investment.

The Chancellor has also announced that the Investment Zones programme in England will be extended from five to 10 years, with the envelope of government funding and tax reliefs on offer now doubled to £160 million.

The new Investment Zone is based around the region’s universities in Leeds, Bradford and Huddersfield and the cluster of life sciences businesses thriving in the area.

Chancellor of the Exchequer Jeremy Hunt said: “We are changing our country for the long term, driving economic growth across all corners of the UK.

“It will mean thousands more jobs in the exciting industries of the future backed up by better infrastructure, and communities to be proud of.”

West Yorkshire Mayor Tracy Brabin said: “We know that devolution is working for West Yorkshire and this new investment zone is further recognition of that from the government.

 “Home to NHS England, our region’s digital and health tech businesses are driving forward innovation and transforming the lives of patients world-wide.

 “This investment is a massive vote of confidence in our top-tier universities and talented graduates and will help our mission to build a stronger, brighter region that works for all.”

Image by Dave Noonan from Pixabay

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