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05/04/2017

12 enterprise zones launched

Words: Laura Edgar
New enterprise zone at Falmouth Docks / Shutterstock: 149918195

The government has announced that 12 new enterprise zones aimed at boosting economic growth have been initiated.

The zones were announced in the 2015 Spending Review to support existing businesses and help new businesses start up. They offer business rate discounts and are backed by a simplified local planning process.

Two enterprise zones – the West of England Local Enterprise Partnership (LEP) and the New Anglia LEP – have been expanded to benefit more places and communities, said the government.

These latest enterprise zones bring the total number to 48 in England. Government statistics suggest more than 29,000 jobs across a range of industries have been created through LEPs since they were launched in 2012.

Local growth 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.”

The new zones include:

  • Cornwall Marine Hub – Located over three sites, Hayle, Tolvaddon and Falmouth Docks, it is intended to establish Cornwall and the Isles of Scilly as a global centre for the marine renewable energy sector.
  • Brierley Hill – A new tech office hub for the Black Country aims to 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.
  • M62 Corridor Leeds City Region – In a boost to the Northern Powerhouse, the zone is expected to capitalise on the area’s manufacturing industry and focus on digital technology, automotive engineering, textiles and glassmaking.

Image credit | Shutterstock

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