UK: New Anglia to Target New GBP 60 Million Enterprise Zone Fund

The New Anglia Local Enterprise Partnership (LEP), which helps to grow jobs and remove the barriers to business growth in Suffolk and Norfolk, will be targeting a new Enterprise Zone fund.

The fund has been created by Government so that key infrastructure projects can be completed quickly. Funding will be targeted at sites capable of delivering growth in the next two to three years through infrastructure funding. Infrastructure could include links to local road networks, upgrading or installing utilities, or reconfiguring site layouts.

New Anglia’s Enterprise Zone, part of the East of England Energy Zone, is based across 6 sites in Lowestoft and Great Yarmouth. It provides a range of benefits for energy-related businesses. These include:

• a discount on business rates of up to £275,000

• simplified planning

• super-fast broadband

Andy Wood, Chairman of New Anglia Local Enterprise Partnership said,

 “This is a really exciting development. We’ve been looking at infrastructure needs across the six sites and will closely study the criteria for funding and put our best case forward. If we are successful in our bid, the fund will help put in place the infrastructure required to unlock sites. This will enable developers to build more premises on the Enterprise Zone that companies need to thrive.”

 “It will build on our success of attracting Seajacks, the global jack-up vessel company and engineering training company Nexus, to the Enterprise Zone.”

 Councillor Colin Law, Leader of Waveney District Council said,

 “This is a fantastic opportunity to bid for the kind of funding that will help create growth and local jobs. If we are successful it will enable us to deliver the infrastructure we need even more quickly and in these difficult times it is a very welcome boost.”

 Councillor Trevor Wainwright, Leader of Great Yarmouth Borough Council said,

 “We welcome the announcement by Government of a new infrastructure fund specifically for Enterprise Zones.”

 “There has already been new development on both the Enterprise Zone sites at Beacon Park in Gorleston and in the South Denes area of the town and this new fund will give us the opportunity to bring forward our plans to develop the Enterprise Zone further and hasten the creation of jobs in the Borough.”

There will be over £50 billion capital expenditure invested in the East of England Energy Zone over the next 20 years in:

• offshore wind farms including the massive East Anglia Array

• oil and gas exploration and extraction

• nuclear – new build and decommissioning

• gas storage and platform decommissioning

Within the East of England Energy Zone New Anglia Local Enterprise Partnership has created an Enterprise Zone which focuses on growing energy-related businesses.

[mappress]

Press release, February 26, 2013; Image: gov