Leeds City Council has agreed to give Schneider Electric, a strategically important business in Hunslet, a rebate on their business rates of £315,000 to help them expand their premises and workforce.
Schneider Electric operates from premises on Jack Lane in Hunslet where it crrently employs 555 people. The firm, a French owned multination, specialises in digital automation and energy management and is a key supplier of Electric Vehicle (EV) infrastructure products globally.
The expansion plans will secure the existing jobs on site and are set to create a further 110 jobs by 2030. The new building will be within the boundary of the current site. You can read Schneider’s planning application here.
The rebate is worth about 94% of Schneider’s current rates bill, but is justified because it will secure a £6-7 million investment in the city; securing and creating jobs; and securing £335,000 rates income in future years. Business rates rebates are financed 50-50 by the Council and central government, so the rebate will cost Leeds £157,500.
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