The first four Enterprise Zone sites have been revealed today at Boots campus in Nottingham, Liverpool Waters, Manchester airport and, chosen by London mayor Boris Johnson, the Royal Docks in the capital.
Yesterday’s Budget announced that the Government would create 21 new Enterprise Zones, with simplified planning rules, super-fast broadband and tax breaks for businesses, to be established in local enterprise partnerships across England.
The areas will aim to create new businesses and jobs with wider economic benefits.
The Budget also confirmed that the first vanguard Enterprise Zones would be based within eleven local enterprise partnerships lead by Birmingham and Solihull, Sheffield, Leeds, Liverpool, London, Manchester, the Bristol area, the Black Country, Derby and Nottingham, Teesside and the North East.
The Government has asked Local enterprise partnerships to nominate the site of Enterprise Zones based on the economic rationale and potential for growth – they are ideally placed to identify the sites that offer the best opportunity for growth.
The focus of the vanguard Enterprise Zones is on cities and those areas that have missed out in the last ten years. But other areas that may have potential for growth could benefit as the government also launched a competition to identify a further 10 Enterprise Zones in England by July.
“The benefits of growth within Enterprise Zones will be kept within their communities, helping to drive the creation of more new jobs and successful enterprises,” said business secretary Vince Cable.
“Growth is this Government’s number one priority and a new generation of Enterprise Zones are central to our strategy,” said local government secretary Eric Pickles. “Local enterprise partnerships can use Zones as a springboard for private sector growth and wider regeneration. It’s great news that London, Liverpool, Manchester and Nottingham are already able to say today where their Zones will be.
“Enterprise Zones are unashamedly pro-growth, with lower tax levels for business and reduced regulations, but they are also unashamedly localist keeping power and profits within the local area so communities benefit.”