Enterprise zone tax breaks now available - Pickles12 April 2012
Every enterprise zone in England can now offer tax breaks to businesses as soon as they move onto the site, local government secretary Eric Pickles has confirmed.
The East Midlands has three zones: Nottinghamshire Boots Campus, Leicester and Leicestershire Mira Technology Park, South East Midlands Northampton Waterside.
The discount provides up to 100 per cent relief to new businesses for five years, with the government meeting the costs.
The Department for Communities and Local Government also confirmed that 18 'Local Development Orders' have now been agreed. The orders grant automatic planning permission for certain developments, such as new industrial buildings.
A further seven orders have completed a consultation process, while approximately 40 more are in the pipeline. The Tees Valley and Great Yarmouth and Lowestoft enterprise zones have been the most active in agreeing Local Development Orders, having each approved six. One has been agreed in the East Midlands at the Northampton Waterside zone.
Pickles said: "This week our low tax, low regulation, enterprise zones with superfast networks are going operational with live deals and incentives now available to entice new companies to the area.
"We've planted these economic incubators all across the country to help accelerate growth, rebalance our economy with thousands of new businesses and local jobs in each location."
He added: "Enterprise zones are set to become the crown jewels of how we make Britain the best place in the world to start and grow a business."
The government revealed plans to set up enterprise zones in the 2011 Budget. A total of 24 across England have now been approved.