Wed, 17 Aug 2011

The North-East, the Midlands, the South-West, East Anglia and Essex are among the main beneficiaries for 11 new Enterprise Zones aimed at creating more 30,000 new jobs by 2015, announced by government today.

In the Budget in March, the government announced 11 Enterprise Zones in 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 has resulted in the government agreeing to increase the invitation to 11 bringing the total to 22 Enterprise Zones. The Zones will attract hundreds of new start up firms, with simplified planning rules, super-fast broadband and over £150m tax breaks for new businesses over the next four years.

Alongside the new Zones, the government is also announcing today that it will make enhanced capital allowances available for plant and machinery investment to a limited number of Enterprise Zones in Assisted Areas, including the Tees Valley and North-East.

With effect from next year, companies setting up in these areas will be eligible to claim enhanced first-year allowances for plant and machinery, giving them an upfront cash-flow benefit.

The second wave of Enterprise Zones will be located in:

• Humber Estuary Renewable Energy Super Cluster
• Daresbury Science Campus in Warrington
• Newquay AeroHub in Cornwall
• The Solent Enterprise Zone at Daedalus Airfield in Gosport
• MIRA Technology Park in Hinckley Leicestershire
• Rotherwas Enterprise Zone in Hereford
• Discovery Park in Sandwich, Kent and Enterprise West Essex in Harlow
• Science Vale UK in Oxfordshire
• Northampton Waterside
• Alconbury Airfield, near Huntingdon in Cambridgeshire
• Great Yarmouth in Norfolk, and Lowestoft in Suffolk

Business secretary Vince Cable says: “Enterprise Zones are creating an environment for businesses to grow in places with the most potential. Those the government is announcing today, on top of those already approved, show the range of ambitious plans in place across the country.

“Local Enterprise Partnerships have worked closely with businesses in their communities to put forward a range of high-quality proposals. The successful bids they will now take forward are going to help inject new growth into their economies.

“Across England, these Zones will generate new jobs, investment in areas that can benefit and develop high-tech products that will secure long-term sustainable prosperity.”