The Government has announced four new enterprise zones in Birmingham, Bristol, Leeds and Sheffield.
The Treasury claimed the move would accelerate economic growth and create thousands of new jobs.
The zones will benefit from discounts on business rates, new superfast broadband, lower levels of planning control and the potential to use enhanced capital allowances.
An announcement will be made on the location of a further ten enterprise zones shortly.
The Prime Minister, David Cameron, said: 'I am determined that we should drive growth in every town, city and community in the country. For too long our economy has been dependent on just one corner of the country and too few industries.
'But it won't be Ministers in Whitehall who can drive this growth; it will be those with the great business idea who are ready to start up, the entrepreneurs who want to grow their company, the businesses looking to expand into new markets.'That is why we are getting behind them, cutting business taxes, freeing them from red tape, easing planning restrictions and rolling out Enterprise Zones to spark business growth around the country.
'It is our dynamic businesses large and small that are on the frontline of our economic recovery and we are committed to do all that we can to ensure that they can thrive.'
