Government announces 11 new Enterprise Zones

The location of eleven new Enterprise Zones, designed to boost local growth and create over 30,000 new jobs by 2015, were announced (Aug 17) by the Prime Minister, David Cameron, the Chancellor of the Exchequer, George Osborne, and the Communities Secretary, Eric Pickles. At Budget the Government announced 11 Enterprise Zones in some of the country’s largest cities, including Manchester, Birmingham, Merseyside and Newcastle, as well as inviting applications for 10 more in other areas. The strength of the applications from Local Enterprise Partnerships was such that Government has agreed to increase this invitation to 11. The location of Zones in the Black Country, Tees Valley and the North East have also been agreed. This brings the total to 22 Enterprise Zones across the country, helping to create thousands of new jobs by 2015. The Zones will attract hundreds of new start up firms, with simplified planning rules, super-fast broadband and over £150 million tax breaks for new businesses over the next 4 years. The second wave of Enterprise Zones include Daresbury Science Campus, near Warrington and Runcorn; MIRA Technology Park in Hinckley Leicestershire and Science Vale UK in Oxfordshire. The Prime Minister, David Cameron, said: “We are
determined to do everything we can to make Britain the best place in the world to start and grow a business. Enterprise Zones are a major step towards delivering this; cutting business taxes, easing planning restrictions and giving business the tools they need to invest and expand. These new Enterprise Zones will be trailblazers for growth, jobs and prosperity throughout the country.” The Chancellor, George Osborne, added: “Enterprise Zones are a critical part of our Plan for Growth and will support economic development and create over 30,000 new jobs by 2015. The zones
will benefit from over £150 million in tax breaks over 4 years, new superfast broadband, lower levels of planning control and the potential to use enhanced capital allowances.”