The University of Sheffield has gained approval for a new engineering building which will help to create 500 new construction jobs.
Officials noted that the state of art facility will be built on the Jessop East site and help provide a boost to the south Yorkshire institute's opportunities in terms of growth and investment.
It is set to cost £81 million to complete and will allow the university to attract both new students and leading academics to the facilities, which are due to be finished by 2016. Construction is due to begin in 2013 with 1,600 new engineering students set to use the structure by 2020.
The development is said to provide a significant boost to Sheffield's local economy and will help to provide £20.6 million each year of its operations. On top of this, during the construction phase alone it is due to increase the area's financial income by £44.5 million due to the amount of jobs that the building work will provide.
Professor Keith Burnett, vice-chancellor of the University of Sheffield, spoke of the development and added: "We recognise that we have been given a wonderful opportunity to create a fitting legacy for the future, an opportunity we take very seriously indeed.
"We are committed to investing in a high quality, stunning building which will not only be the centrepiece for the Faculty of Engineering’s continued success, but will also be a source of enormous pride for the city."
The city is a major higher education venue, as it is home to the University of Sheffield and Sheffield Hallam University. Both of these institutes have undergone significant investment over the past year.
Hallam has been given the go-ahead to develop its Collegiate Campus which will cost £25 million to complete and is due to be finished by 2014. This is due to bring yet more students to the area and further improve the city's status as one of the best places to study for a degree.
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