Sheffield Hallam has worked with the South Yorkshire Mayoral Authority, the University of Sheffield and other regional partners to help develop the Investment Zone - which is expected to create 8,000 new jobs for South Yorkshire and bring in £1.2bn worth of private investment by 2030.
Using government support worth £80m, the new Investment Zone will help make South Yorkshire the best place to start, scale or relocate businesses from around the world, boosting the UK economy.
Areas within the new Investment Zone include the Sheffield Olympic Legacy Park, which is home to Sheffield Hallam’s Advanced Wellbeing Research Centre and National Centre of Excellence for Food Engineering, and Sheffield City Centre where Sheffield Hallam’s City Campus is located.
Sheffield Hallam recently announced ambitious plans for a Health Innovation Campus at the Sheffield Olympic Legacy Park, creating the most advanced cluster for health, wellbeing and sustainability in the world - building capacity in skills, research, innovation, business support and community engagement.
Professor Sir Chris Husbands, Vice-Chancellor of Sheffield Hallam University, said:
“I am delighted that South Yorkshire will be the first region to benefit from this government initiative. Today’s announcement recognises the significant role Sheffield’s universities have to play in driving sustainable economic growth across our region.
“Sheffield Hallam looks forward to working with key partners to develop our clusters of excellence and expand opportunities for research and innovation.”
The first investment announced is a more than £80m Boeing-led research project into manufacturing lightweight structures for aeroplanes – a key part of making aviation more sustainable.
Compass (Composites at Speed and Scale) will be built as an extension to the University of Sheffield Advanced Manufacturing Research Centre’s Factory 2050. It will be built with support from the South Yorkshire Mayoral Combined Authority, Sheffield City Council and the High Value Manufacturing Catapult.
South Yorkshire’s Mayor Oliver Coppard said:
“Our Investment Zone will help put South Yorkshire back where we belong; at the forefront of this country’s manufacturing-led growth.
“Technology created in South Yorkshire built the modern world. Because in South Yorkshire we have always known how to deliver practical solutions to big challenges. Yesterday it was stainless steel and our coal industry, today it is AI, Robotics and creating lighter, stronger materials for Jet Zero.
“That’s why this new Investment Zone status is so important. Because with the support of partners like Boeing, and working with the government, we’re showing we have the tools, the technology and the confidence to build on our strengths as not just the world’s first, but the world’s best Advanced Manufacturing District.”
The Investment Zone – the first of 12 new zones built around universities and high-growth industries – will build on the success of South Yorkshire’s Advanced Manufacturing Innovation District (AMID), expanding it to incorporate Rotherham town centre and Sheffield city centre, with Opportunity Sites across Barnsley and Doncaster.
Investors, developers and start-ups will be offered a combination of targeted support and financial interventions to start, scale up and relocate their businesses including:
- Help with relocating through funding for capital, infrastructure and feasibility work.
- Help unlocking barriers to planning, with support from dedicated Investment Zone planning officers throughout the process.
- Skills support schemes to upskill workforces and boost opportunities for graduates whilst tackling issues around economic inactivity.
- Supply chain funding to build the capability and competitiveness of suppliers to access regional, national and international growth markets.