A series of specialist zones featuring superfast broadband, discounted business rates and relaxed planning rules go live across Norfolk and Suffolk today.
The 10 Enterprise Zones – a key tool in the government’s plan to drive jobs and increase investment – will be hubs for entrepreneurs and young businesses to develop.
It is hoped they will create 18,500 jobs in the 25-year life of the zones, and 5,000 by 2021.
The official launch is at the King’s Lynn Innovation Centre on the Nar Ouse Business Park today, the first building built on the zone.
Nick Daubney, leader of West Norfolk Council, said it was an exciting time for King’s Lynn and west Norfolk.
He added: “The launch of the new enterprise zone will really help to stimulate business growth and help King’s Lynn attract new investment. In turn this will bring more jobs and opportunities for the people of west Norfolk.”
Businesses which move into the sites as part of the national scheme will benefit from business rate discounts of up to £275,000 over five years, simplified planning and access to superfast broadband.
Firms making large investments in plant and machinery will also receive tax relief worth millions of pounds.
The new sites include Norwich Research Park, next to the B1108 south of Norwich on one of the largest single-site concentrations of research in food, health and life sciences in Europe, Suffolk Business Park in Bury St Edmunds, which will be developed to the east of Moreton Hall, Stowmarket Enterprise Park, which has strong links to food manufacturers, Sproughton Enterpirse Park, hoped to draw in businesses in the agri-tech, food and health sectors, Scottow Enterprise Park, at former RAF Coltishall and Egmere Business Zone, south of port facilities at Wells-next-the-sea.
In Ipswich there are a cluster of new sites to support Ispwich Vision, the blueprint for the regeneration of the town.
Mark Pendlington, chairman of New Anglia LEP said: “Suffolk and Norfolk is already home to a thriving Enterprise Zone in Great Yarmouth and Lowestoft at the heart of our all-energy coastline.
Today we can extend that success, to 10 new sites across the East giving businesses locally, nationally and internationally the tools to begin a new venture or move their ideas forward and help create even greater momentum, wealth and success.”
Source: Eastern Daily Press