Twelve new Enterprise Zones have ‘gone live’, the Government has announced in a move designed to promote economic growth across the country.
Announced in the Autumn Statement 2015, these new zones offer business rates discounts and additional tax breaks, backed by a simplified local planning process.
In addition, the department for communities and local government said two Enterprise Zones – the west of England LEP (Local Enterprise Partnership) and the New Anglia LEP – have expanded to benefit more places and communities.
The total number of Enterprise Zones in England is now 48. They have attracted more than £2.6bn of private investment and more than 700 new businesses.
They have also created more than 29,000 jobs since 2012, the Government reported.
‘Our modern Industrial Strategy is about creating the right environment for businesses to grow - Enterprise Zones are making sure this happens across the country,’ said local growth minister Andrew Percy.
‘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.’