Kingmoor Park Enterprise Zone to Feature In Multi-Billion Pound Northern Powerhouse Portfolio

Kingmoor Park Enterprise Zone will become the first site in Cumbria to be awarded a place in the Capital Investment Portfolio for the Northern Powerhouse Region.

Posted on February 04, 2020

Kingmoor Park Enterprise Zone will become the first site in Cumbria to be awarded a place in the Capital Investment Portfolio for the Northern Powerhouse Region. This is a worldwide marketing initiative highlighting key opportunities for overseas investors, distributed by the Department of International Trade.

The Department chose Kingmoor Park Enterprise Zone based on the strength and opportunity for economic growth that the company’s latest Masterplan provides. This comprehensive document details the range of opportunities that exist within the sites 170 acres of prime development land with up to 30 development plots and the ability to create individual units of up to 350,000sqft, all with direct access to Junction 44 of the M6.

Commenting on the site’s inclusion, Kingmoor Park Managing Director Neil McIntyre said:

“This is a reflection of what has been achieved so far and the opportunities that still exist for the future. We are delighted that Kingmoor Park has been given the recognition it deserves and look forward to seeing the reaction from a worldwide stage.  Our Masterplan covers the next 15 years and predicts that once all the development land has been utilised, we will have added another 2.1m sqft of business space and will have created another 3,000 jobs on site”.

The Investment Portfolio was created by the Department of International Trade in 2017 and was launched initially with 7 large scale, high quality investor-ready projects throughout the UK.  Both these and the latest additions, including Kingmoor Park, will feature in the new

Capital Investment Portfolio, which will then be used by the Department of International Trade to inform and attract investors to the country.

There are six UK Regional investment opportunities and Kingmoor Park features in the Northern Powerhouse region. Recognised by central government, the Northern Powerhouse accounts for 18% of the UK economy and exported around £54bn worth of goods in 2016. The Powerhouse covers the North West, North East, Yorkshire and the Humber and North Wales.

Speaking on Kingmoor Park becoming the first Cumbrian name to feature in the portfolio,
Graham Stewart MP, Minister for Investment, said:

“This is an incredible achievement for Kingmoor Park Enterprise Zone. I am confident that this excellent space will attract investment that will in turn create jobs and further opportunities for growth.

My department’s Capital Investment’s portfolio showcases the most impressive projects from across the north and has been used to market projects to many international investors.”

The Cumbria Local Enterprise Partnership (CLEP) have supported Kingmoor Park throughout their application for partnership with the Northern Powerhouse and continue to be a key stakeholder alongside Carlisle City Council and Cumbria County Council.

Speaking on their successful application, Graham Booth, Chair of Kingmoor Park Enterprise Zone and CLEP Board member, said:

“The decision by the Department of International Trade to include Kingmoor Park within their Capital Investment Portfolio is a significant development in that we will now will have access to a wide range of international investors and with that the opportunity to bring further jobs and economic success to the region.”

Cllr John Mallinson, Leader of Carlisle City Council, said:

“Carlisle is a growing city and I’m delighted that Kingmoor Park Enterprise Zone has been recognised in such a positive way by the Government. It places it on a global market and could attract further investment in the future. It’s a key strategic site which I hope to see flourish even further.”

Cllr David Southward, Cabinet Member for Economic Development and Property at Cumbria County Council, said:

“This is fantastic recognition by Government of the hard work undertaken by Partners in developing Kingmoor Park Enterprise Zone as a key strategic site within the Northern Powerhouse Region.  Inclusion in the Capital Investment Portfolio represents the significance and importance of the Enterprise Zone, providing an exciting forum to showcase the opportunities it has to offer.”