A new enterprise zone has been launched in Leeds targeting the logistics industry. The Aire Valley Leeds Enterprise Zone is located close to the M1.
Companies are being enticed to set up or expand into the area by incentives including reduced business rates worth up to £275,000 over a five year period.
The 142-hectare zone, adjacent to the A63 East Leeds Link Road, is expected to create 7000 jobs and £550m of additional economic activity by 2025.
It consists of four sites – Newmarket Lane (9.2ha), Thornes Farm (21ha), Temple Green (63ha) and Logic Leeds.
Leeds City Council has committed £2.5m to build a new spine road to accelerate development of the 49 hectare Logic Leeds site, one of the four sites making up the new zone.
Muse Developments is working with Evans Property Group, KeyLand Developments, Castle and Wilton Developments, and Leeds City Council to develop the enterprise zone.
David Wells, development director of Muse Developments, said: “Benefiting from excellent transport links and close proximity to the M1 and Leeds City Centre, Logic Leeds will provide an ideal location for companies in healthcare, low carbon manufacturing, renewable energy, waste management, logistics and distribution.”
The site is one of 22 areas identified by the government to receive regeneration funding.
Chair of the Leeds City Region Local Enterprise Partnership Neil McLean said: “The opportunity presented by the EZ to retain business rates means that we can invest more money across the city region to address important issues such as improving skills levels and creating better job opportunities.”