18,500 new jobs hope for region
Monday 23rd May 2011, 11:05AM BST.
The Marches LEP is asking the Government to consider a multi-site bid to transform land across three sites — Telford Technology Park, an area of Shrewsbury dubbed the “Arc”, and Hereford’s Rotherwas Park — into Enterprise Zones.
LEP chairman Dr Geoffrey Davies said: “As one of the first wave of successful LEPs, we wish to seize this opportunity, having been unsuccessful in the first round of Regional Growth Fund bids.
“Creating an Enterprise Zone within the Marches would be a catalyst for creating wealth and sustainable employment. We have a diversity of sectors which would benefit immensely.”
The multi-site bid is made to fit the Marches because of the area’s rural nature.
The selected sites include businesses involved in health and social care, advanced manufacturing, environmental technology, defence, and the food and drink industry.
The bid would also provide a business support package, including grant support and mentoring schemes.
Businesses in a zone area would benefit from reduced business rates, increased capital allowances and relaxed planning regulations.
Chancellor George Osborne announced plans for 21 enterprise zones in the budget.
London plus ten city centre-based LEPs have been asked propose areas for Enterprise Zones and a competitive process was launched in March to invite all LEPS to propose ten more zones.
Dr Davies added: “A multiple site model will provide small and medium sized business growth.
“It will help facilitate the planned housing growth of 41,500 new homes by 2026.
“If the bid is successful, it is anticipated that as a result some 18,500 jobs would be created.”
By Business Editor Thom Kennedy
UK News
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