Selby has missed out on a huge business development opportunity, in a decision the area’s MP called “disappointing, but not surprising”.

The town had hoped to get Enterprise Zone status after the Leeds City Region local enterprise partnership (LEP), was awarded Government funds to stimulate business growth in the region.

Selby’s Olympia Park was one of four bids, including Leeds Aire Valley, Bradford city centre and the Wakefield M62 corridor, but the LEP decided Leeds was the best option for investment.

Nigel Adams, MP for Selby and Ainsty, said: “It’s disappointing, but not surprising, given that the successful bid was in a position to move much quicker than the Olympia Park development, which is at an embryonic stage.

“It’s only right that the LEP wanted a site that was in a position to be ready earlier. It was a long shot with the Olympia Park development, and it was a good thing it was short listed, but I understand that the winning bid had a proposition that was able to get up and running much sooner.”

Council leader Mark Crane shared Mr Adams’ disappointment, but said the council would continue to promote the Olympia Park site to developers.

Coun Crane said: “Obviously we’re disappointed but at least we did put a good case forward and we wish the Aire Valley well, and hope it’s a success.

“If the opportunity comes up again, we would be ready to go with the site that we have already suggested, and we will continue to promote that site with developers, because I believe it will be a bonus to the town.”

Mr Adams had previously told The Press that Selby’s reputation for having some of the worst internet speeds in the country could work in the town’s favour for gaining Enterprise Zone status, as incoming businesses would require improved internet access.

He said: “I’m still working on that, and had a meeting on Thursday with the Secretary of State regarding rural broadband, and I’m still hopeful that we can get superfast broadband rolled out across the constituency. I will continue to push for that, it’s important that we have the backbone to deal with increased internet and smartphone use.”