The location of 11 new Enterprise Zones with simplified planning rules were announced today by the government, along with plans to make it easier for new companies to invest in plant and machinery.
This brings the total to 22 Enterprise Zones across the country. Enterprise Zones are designed to boost local growth and create over 30,000 new jobs by 2015. The zones will receive government and local authority help to develop radically simplified planning approaches in their area.
The government also said today that in “a limited number of Enterprise Zones” it will make greater capital allowances from 2012 on investments in plant and machinery. Companies setting up in these areas will be eligible to claim “enhanced first year allowances” for plant and machinery, giving them an upfront cash flow benefit.
This will be done in zones where it is deemed better for the local economy to focus on a smaller number of companies making “significant capital intensive investments”, rather than on attracting greater volumes of companies.
New Enterprise Zones
The second wave of Enterprise Zones will be located in:
- 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
- Great Yarmouth in Norfolk, and Lowestoft in Suffolk