The Prime Minister, Chancellor and Communities Secretary Eric Pickles have announced the locations of the second wave of Enterprise Zones (EZs) designed to kick-start the UK economy.
The Government set out plans for the Zones to attract hundreds of new start up firms, with simplified planning rules, super-fast broadband and over £150 million tax breaks for new businesses over the next 4 years.
Included in the second ‘wave’ are:
• Humber Estuary Renewable Energy Super Cluster;
• Daresbury Science Campus in Warrington;
• Newquay AeroHub in Cornwall;
• The Solent Enterprise Zone at Daedalus Airfield in Gosport;
• MIRA Technology Park in Hinckley Leicestershire;
• Rotherwas Enterprise Zone in Hereford;
• Discovery Park in Sandwich, Kent and Enterprise West Essex in Harlow;
• Science Vale UK in Oxfordshire;
• Northampton Waterside;
• Alconbury Airfield, near Huntingdon in Cambridgeshire; and
• Great Yarmouth in Norfolk, and Lowestoft in Suffolk.
Communities Secretary Eric Pickles said: “This Government's job is to foster local enterprise and create the conditions for businesses to thrive in. That is why low tax, low regulation EZs are being planted across the country and will give businesses all the incentives they need to grow their local economy and create thousands of new local jobs."
Dr Adam Marshall, Director of Policy at the British Chambers of Commerce, said: “The BCC has campaigned for a new generation of Enterprise Zones for years, so we are pleased to see that eleven additional areas will benefit from the designation.
“This generation of Enterprise Zones has learned important lessons from the past, and has the potential to boost local private-sector growth. We believe that simplified planning rules, better broadband and carefully targeted tax breaks can help attract and generate new business investment that is sustainable over time.
The British Property Federation (BPF) has welcomed the focus on areas with clear growth potential but wants the incentives on offer to be tailored in order to spur development in different areas.
Liz Peace, Chief Executive of the Federation, said: “it will be essential to devise flexible sets of incentives that can be tailored to the different needs and contexts of different EZs.”
18 August 2011