What is an Enterprise Zone?
A geographic area agreed between a Local Enterprise Partnership and Government designed to encourage business development and generate jobs. This is achieved through a combination of financial incentives and reduced planning restrictions.
What can it offer business?
- a business rate discount worth up to £275,000 over a five year period
- streamlined planning rules to help businesses build premises swiftly
- support from the Government to ensure businesses benefit from high speed broadband in the Zone
What businesses are currently in New Anglia's Enterprise Zone?
Seajacks is the global owner and operator of purpose-built self-propelled jack-up vessels.
Nexus offers a wide range of training including training for the energy-related sector.
What areas are included within the Enterprise Zone?
The Enterprise Zone covers 121 hectares of development-ready land including:
- South Denes - 58 hectares
- Beacon Park - 16 hectares
- Riverside Road - 4.5 hectares
- South Lowestoft Industrial Estate - 20 hectares
- Ellough Business Park - 17 hectares
What will the Enterprise Zone achieve?
It is forecast that 9,000 new jobs will be created in the Enterprise Zone areas by 2025 and a further 4,500 indirect jobs.
By 2015 it is envisaged that there will be around 80 businesses in the Enterprise Zone of which 60 will be as a result of expansion and 20 investors. Longer term the Enterprise Zone is expected to home 150 - 200 businesses.
For further information contact:
Eunice Edwards, Enterprise Zone Coordinator