05.04.17
DCLG announces establishment of 12 more ‘Enterprise Zones’
Twelve new ‘Enterprise zones’ have gone live today, the DCLG has announced – in an effort to drive the local economy in more regions across the country.
Enterprise zones were announced in the Autumn Statement in 2015 by then chancellor George Osborne and are designed to help entrepreneurs set up and grow their businesses.
The zones offer business rates discounts and other tax breaks to emerging entrepreneurs, backed by a simplified planning process.
On top of this, two of the zones, the West of England LEP and the New Anglia LEP, have been expanded to accommodate for a wider area of people and businesses.
The zones going live include:
- M62 Corridor Leeds City Region: In a boost to the Northern Powerhouse, the zone will capitalise on the area’s strong manufacturing industry and focus on digital technology, automotive engineering, textiles and glass making
- North Kent Enterprise Zone: With three sites covering Ebbsfleet Garden City, Kent Medical Campus and Rochester Airport Technology Park, the zone will focus on the life sciences sector
- DY5 - Dudley’s Business and Innovation Enterprise Zone: A new tech office hub for the Black Country will support development of Britain’s advanced manufacturing heartland in the Midlands Engine; it will have easy access to surrounding industrial sites as well as central Birmingham, national and international connections
- Cornwall Marine Hub: Located over three sites at Hayle, Tolvaddon and Falmouth Docks, the zone will establish Cornwall and the Isles of Scilly as a global centre for the marine renewable energy sector
The 12 announced now bring the total number up to 48 in England. So far, existing zones have generated more than £2.6bn of private investment and launched more than 700 new businesses, the government claims.
Northern Powerhouse minister Andrew Percy said: “Our modern Industrial Strategy is about creating the right environment for businesses to grow – Enterprise Zones are making sure this happens across the country.
“This is a key part of our plan for Britain, creating a stronger economy that works for everyone. These 12 new Enterprise Zones will help even more businesses to set up and grow. I’m confident they will build on the success we’ve already seen over the past five years.”
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