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£59 million fund to accelerate Enterprise Zone growth

A new fund will deliver the infrastructure that Enterprise Zones need to become economic engine rooms and drive growth across the country. 

The government is inviting Enterprise Zones to apply for £59 million worth of investment to help “turn shovel ready sites into job ready sites” by completing key infrastructure projects.

This fund will help zones with real growth potential to put in place the infrastructure required to unlock sites so businesses can set up. This could mean links to local road networks or reconfiguring site layouts; upgrading or installing utilities like electricity and water; or reclaiming contaminated land.

A central plank in the government’s economic growth strategy, ministers want to see Enterprise Zones accelerating activity to give them that global competitive edge needed to attract firms. Communities Secretary Eric Pickles has asked Local Enterprise Partnerships to have delivery plans for all 24 zones in place by the start of the next financial year.

Eric Pickles said:

“Economic growth is this government’s biggest priority and Enterprise Zones are the engine room of that strategy. They are a fantastic way to attract the jobs and business investment that local areas need. This new £59 million fund will turbo charge that engine by turning shovel ready sites into job ready sites.

“Enterprise Zones have all the raw ingredients and growth incentives - simplified planning, low tax, super fast broadband and inward investment - they need to translate their potential into jobs and growth success. This is an opportunity to lay the infrastructure foundations so they are ‘gift wrapped’ ready to house new businesses.

“It is time for Enterprise Zones to take up the gauntlet of growth. Local Enterprise Partnerships can do more to make zones realise their potential sooner. The government is determined to work flat out with partnerships to clear any roadblocks in their zone’s path so they can forge ahead and deliver the jobs the country’s economy needs.”

For the full article please click on the link below………