The New Enterprise Zone at Robin Hood Airport Business Park: the Benefits for Businesses Explained

Tuesday, 27 May 2014

Robin Hood Airport Enterprise Zone: financial incentives, and international connectivity

Sheffield City Region's Enterprise Zone has been expanded to include 10 hectares at Robin Hood Airport Business Park, directly on the Doncaster Sheffield Airport site. In this post, we look at the site's property offer to businesses and the financial incentives that come with Enterprise Zone status. We also consider the strategic importance of the site within both Doncaster's multimodal Logistics Hub and Sheffield City Region's world-class Advanced Manufacturing cluster.

Location and Connectivity Benefits

Robin Hood Airport Enterprise Zone provides businesses located on the site with fast access to both UK and international markets. Key location benefits include:

Direct On-Site Airport Access: to Doncaster Sheffield Airport's Air Cargo handling facilities and passenger terminal.
Direct Motorway Access: to M18 junction 3, within 5 minutes drive time via the new FARRRS Link Road (currently under construction and opening in early 2016).
Map Link: Finningley, Doncaster DN9 3GP, UK

The new FARRRS Link Road (red) will connect the airport Enterprise Zone directly to M18 junction 3

Property Specifications and Benefits

The site has planning consent for over 2 million sq.ft. of office, industrial and warehouse accommodation, ranging from 7,500 sq.ft. up to 245,000 sq.ft.
Design and Build properties are available on a long leasehold basis. Freehold land is also available for immediate development
A substantial electrical power supply is available on site, via a dedicated electricity sub-station
The local authority is committed to a 'business-friendly' approach to addressing planning issue
24 hour operations are possible on the Enterprise Zone site
The site also offers on-site hotel and leisure facilities, and bus services to/from Doncaster town centre

A Centre of Excellence for Manufacturing and Engineering Businesses

Robin Hood Airport Enterprise Zone is one of the north of England’s foremost locations for the attraction of Aerospace and Aviation-related manufacturing and engineering businesses. Sheffield City Region is home to a world-class cluster of Advanced Manufacturing companies and research capabilities, including the Advanced Manufacturing Park (AMP) and the University of Sheffield's Advanced Manufacturing Research Centre (AMRC). From early 2016, both of these Centres of Excellence will be accessible from the airport site within around 20 minutes drive time (via the FARRRS Link Road).

Enhanced Capital Allowances: Financial Incentives for Major Capital Investments

Sheffield City Region is one of only six Enterprise Zones in England offering Enhanced Capital Allowances to businesses making significant capital investments in plant and machinery. The incentive is available to investing businesses on selected sites within the Enterprise Zone, including the site at Robin Hood Airport Business Park.

Enhanced Capital Allowances Explained

The Enhanced Capital Allowances scheme allows businesses to write off 100% of the cost of qualifying plant and machinery against taxable profits in the year of purchase, potentially delivering significant financial savings for investing businesses. Following an announcement by the Chancellor in the 2014 budget, businesses now have until March 2020 to make a qualifying investment, and can then write off up to £100 million against corporation tax.

A Key Component in Doncaster's Multimodal Logistics Hub

The new Enterprise Zone is a key component in Doncaster's fast-growing Logistics Hub, providing businesses with UK and international multimodal freight connectivity via the airport, the iPort rail-linked logistics park, Doncaster International Railport and the FARRRS Link Road/M18 motorway.