Derbyshire County Council leaders have welcomed Government approval of Enterprise Zone status for its Markham Vale site.
The decision is a further boost to the county council’s long term aim of bringing 5,000 jobs to the site off the purpose built junction 29a of the M1.
Enterprise Zone status means businesses operating from Markham Vale will be entitled to Enhanced Capital Allowances – offering tax relief for major investment in plant and machinery.
Council Leader Andrew Lewer said: “Markham Vale is Derbyshire County Council’s flagship regeneration project and Enterprise Zone status is great news for our commitment to bring 5,000 jobs to our site.
“The county council was so determined to ensure Markham Vale achieved the benefits of Enterprise Zone status we threw our whole-hearted backing behind two applications.
“We have already spent over £70 million to lay the firm foundations for long-term job creation at Markham Vale with the new motorway junction, excellent accommodation and superb on-site support for exiting companies and potential investors alike.”
Councillor Lewer added: “The recent announcement that leading car parts distributor Andrew Page Limited is bringing 120 jobs to Derbyshire through its new national distribution centre at Markham Vale shows the progress we are making.
“Markham is the only site along the M1 corridor to be building new units in difficult economic times and the benefits of Enterprise Zone status make it an even more attractive home for businesses.”
Derbyshire County Council is working with partner Henry Boot Developments Limited to attract national and local companies to the former coalfield site.
So far 61 acres of Markham Vale’s 200 acres have been developed into industrial, manufacturing and commercial space.
Derbyshire County Council supported the successful Enterprise Zone bid for Markham Vale which was submitted by Sheffield Local Enterprise Partnership, which includes Bolsover District Council, Chesterfield Borough Council and NE Derbyshire District Council.
It is the most southern of three sites along the M1 corridor which are covered by Enterprise Zone status.
The county council is a member of the D2N2 Local Enterprise Partnership which also includes Derby City, Nottingham City, and Nottinghamshire County Councils.
D2N2 partnership was successful in the first wave of Enterprise Zone bids early this year – creating a zone on the former Alliance Boots site in Nottingham.
It also submitted a separate Enterprise Zone bid for the Markham Vale site to support the Sheffield Local Enterprise Partnership application and give it maximum chance of success.