Latest Public Sector News

07.10.13

More funding for enterprise zones – Pickles

The Government is announcing more support for ‘enterprise zones’ today, with an extra £100m in funding to be made available. 

The competitive fund is open for bids until November 18, but each of the 24 enterprise zones in England can only bid once, co-ordinated by the area’s local enterprise partnership (LEP). 

Communities Secretary Eric Pickles said: “Enterprise zones are at the centre of our plans to back business, help local economies grow stronger and give the UK that competitive edge. 

“The zones are showing progress with over 180 businesses, half a billion pounds of private sector investment and nearly 4,000 jobs, and many more in the pipeline. 

“We want to help them grow further and faster and this extra £100m investment will ensure they have the infrastructure in place to successfully attract even more businesses and create many more local jobs.” 

Businesses that site themselves in enterprise zones can claim up to 100% relief on business rates over a five-year periods, and some zones also offer enhanced capital allowances for investment in plant and machinery. Other offer benefits such as lease payment holidays, low-rent incubator units and development funding. 

See the bidding guidance and application form. 

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