Laura Sharman 17 July 2015

Councils urged to develop Enterprise Zones plan

Councils urged to develop Enterprise Zones plan image

Councils are being urged to put forward plans for new Enterprise Zones after the Government announced it was extending the scheme.

The Government is encouraging councils to work with their Local Enterprise Partnerships (LEPs) to put create a business case for new Enterprise Zones in a bid to create jobs and boost economic growth.

The scheme enables LEPs to retain 100% of business rate growth to fund future development, while businesses can access discounts on business rates and enhanced tax relief to invest in plant and machinery.

Minister for local growth and the Northern Powerhouse, James Wharton said: ‘With this new round of Enterprise Zones even more areas and businesses will be able to benefit from the support they bring. Only the very best bids will succeed but this is a chance for council leaders and businesses to make their case and secure a real boost to the local economy.’

The Government said the existing 24 Enterprise Zones have attracted 15,500 jobs and delivered a multibillion-pound boost to local economies since they opened three years ago.

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