Cabinet to discuss plans to secure long-term investment in the district
12 January 2022
Wakefield Council’s Cabinet is set to discuss plans to bring long-term investment into the district and provide more higher paid job opportunities for local residents, when they meet next week.
Cabinet is considering initiatives such as rate relief for businesses and the Council taking on leases to attract more businesses to set up in the district.
Regionally, Wakefield is often pitched alongside other authorities to attract investment and the Council is committed to working with partners to make the district competitive against neighbouring authorities and attract quality investment.
The use of selective support is increasingly requested by investors when relocating or expanding into new areas. Being able to commit to exploring these will ensure Wakefield is better placed to attract investment. It will also help to diversify the district’s business base and help to address the number of residents working in low skilled occupations, whilst also helping to attract well-paid, skilled employment – building aspirations amongst Wakefield residents.
The use of this selective support would only occur in extreme circumstances when negotiating with businesses that will make a significant difference to challenges faced by the district. This would allow Wakefield Council to influence the number and level of jobs being created within the district.
Cllr Darren Byford, Wakefield Council’s Cabinet Member for Regeneration, Economic Growth and Property, said: “We know that the Wakefield district has so much to offer businesses – it is a fantastic place for them to grow and prosper, which will ensure our district thrives.
“We want to attract quality investors to Wakefield and in turn improve the quality of life of our residents, by providing more good quality jobs.”
Wakefield has identified its aspirations through the creation of the Wakefield Business Support and Investment Strategy (2021).
Furthermore, in 2021, Wakefield Council adopted a new Employment and Skills Strategy: A Learning City and District. A strategy, which aims to create a framework to support labour market progression, accessing skills opportunities through training providers and businesses.
Members of Wakefield’s Cabinet are meeting virtually on Tuesday 18 January at 10.30am. The meeting can be watched live or later on the Council’s website. Formal decision making will take place after the meeting.