| Sheffield Development Corporation |
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Information AboutSheffield Development Corporation |
| CATEGORIES ABOUT SHEFFIELD DEVELOPMENT CORPORATION | |
| sheffield | |
| 1988 establishments | |
| 1997 disestablishments | |
| organisations based in the united kingdom | |
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During its existence it invested £101 million of government money and £7.5 million from the European Union . This was supported by £680 million of private investment. It reclaimed 600 acres (2.4 km&2) of land and created over 5 million square feet (460,000 m&2) of commercial floor space. It also created 18,000 new jobs. It also regenerated the local landscape with 160,000 trees and shrubs and renovated the Sheffield And South Yorkshire Navigation . DEVELOPMENTS The most famous development during its time was Meadowhall , which was Europe's largest Shopping Centre when it was built in 1991 . It also brought the Abbey National share exchange centre to the area along with several call centres. Sheffield City Airport was also built during this time but is now facing an uncertain future since the end of charted flights and the construction of Robin Hood Airport Doncaster Sheffield airport. The Victoria Quays at the end of the Don Valley Navigation also received a large investment. Although largely built in the region the SDC had no involvement with the World Student Games development. There was also due to be a four lane link road from junction 34 of the M1 at Meadowhall and the city centre. This was abandoned for a more modest improvement of the local roads when the early 1990s recession struck. In the end a total of 9 miles of road was improved. CRITICISM In 1989 there was accusations that the chairman was using his authority for personal finincial gain. Although he was never found to be doing anything improper or asked to step down, he did have business interests within the region. He was also a non-excutive chairman of a company who invest in regeneration projects in Sheffield. It has also been pointed out that a lot of the jobs created by the regeneration have been in the service industry. These are generally more poorly paid than the industrial jobs they replaced. They also tend to be part-time as well as full-time opportunities. The use of Compulsory Puchase orders by the SDC was seen as aggressive, especially in the first years of its existence. This led to the creation of the Lower Don Valley Business Association (LDVBA) in order to oppose some of it's schemes. The situation improved owing to a number of factors, including the recession which caused the corporation to scale down such schemes. This eventually led to the disbaning of the LDVBA and good relations with local business. AFTER THE SDC The land continued to be developed after the dissolution of the SDC. A further 6,000 jobs were already due to be created and £124 million was pleged to redevelopment of Sheffield by the government over the next 7 years. Since 1997 the lower Don Valley has also scene further investment due to its links. Valley Centretainment , including one of the countries largest cinema complexes, has also been built since 1997. In may 2005 Sheffield City Council announced a £1 billion pound investement scheme for the Attercliffe area taking 20 years to complete. REFERENCES |
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