Local authorities are now able to apply to host a new Investment Zone, the Government announced over the weekend.
The Department for Levelling Up, Housing and Communities (DLUHC) is encouraging councils to take advantage of the Government’s offer to set up Investment Zones, which are areas with lower taxes and fewer planning rules.
These areas will help ‘drive serious economic growth that will be transformational for towns and cities across the country,’ according to a DLUHC press release.
The DLUHC said it has had ‘encouraging discussions’ with 38 councils about proposals for specific areas within the local authority that could become an Investment Zone.
The department is now inviting expressions of interest from those initial places and all other Mayoral Combined Authorities or Upper Tier Local Authorities and Freeports in England by Friday 14 October.
