TAX breaks, superfast broadband and heavily-relaxed planning laws are in the pipeline for businesses under plans for a city enterprise zone designed to kick-start Stoke-on-Trent's ailing economy.
A board of regeneration leaders unanimously backed Etruria Valley as the chosen site for Staffordshire's bid to bring a local enterprise zone to the region, picking it from a shortlist of 17 sites across the county.
It is the first step in a process which could bring up to 3,000 jobs to the city.
Stoke-on-Trent and Staffordshire Local Enterprise Partnership (LEP) was overlooked when George Osborne announced the first wave of zones in his March Budget.
But the LEP has made securing a zone in the second wave of bids the cornerstone of its growth plans and the 70-acre former steelworks site will now figure at the centre of its strategy.
If successful, local authorities will be able to keep business rates they collect for 25 years to reinvest in regeneration schemes across the county. This is instead of sending them to central government for redistribution nationally.
The enterprise zone could offer up to 100 up-front incentives on the cost of buildings, as well as reeling in businesses and investment with a "light touch" planning application process and business rate discounts.
It follows a blow to North Staffordshire's regeneration plans earlier this week when six of seven LEP-backed bids for cash from the Regional Growth Fund were rejected.
The site of the zone, which offers the benefits to all businesses within its boundaries, is owned by regeneration group St Modwen. Its regional director Mike Herbert, pictured below, believes the status would make Etruria Valley an appetising prospect for businesses.
He said: "One of the questions we are frequently asked by developers is what are the incentives, because the cost of setting up or relocating a business is very big.
"Enhanced capital allowances are a real benefit that businesses would find very attractive.
"The discounted rates are an advantage, but extra allowances can significantly reduce the cost of developing a new plant.
"Other areas will have the zones, we have to make sure we keep up."
Stoke-on-Trent Central MP Tristram Hunt said: " The Etruria site is an exciting opportunity. What we need is not for businesses to move from other parts of the city, but for new ones to move here.
"The most important message is that it shows a pro-growth and pro-business message. Privately-led regeneration is going to be vital for our economy."
The LEP has two weeks to register its interest with the government.
Final applications must be submitted in June with a verdict due in late summer or early autumn.
LEP vice-chairman Stephen Burgin said the board's top priority is maximising job creation in North Staffordshire – adding members are determined the bid will succeed.
He said: "We are united in our determination to put growth and prosperity centre stage for Stoke-on-Trent and Staffordshire.
"Together we can build a bid that will deliver opportunities for business to establish, grow and develop.
"Our enterprise zone submission will provide the focus and flexibility entrepreneurs need to thrive.
"Our plans are big, bold and ambitious and cut across boundaries. Stoke-on-Trent and Staffordshire means business."
Also on www.thisisstaffordshire.co.uk: Latest discount vouchers
�200 Saving on Worcester Combi Boiler - HMS ( Handy Man Service)
Half-price milkshakes during live sporting events - Retro Lounge, Cafe and Grill Bar
10% Discount for all new bookings for 2011 - Classy Carriages Ltd
Azores holiday special offers from �399pp - Sunclub International
�50 Off Instore this April - O.E.R Ltd (Olde Englande Reproductions)
Want to offer readers a discount voucher? Claim your listing on our business directory
 |  |
Folk music Public sector cuts Peter Beagrie Office for National Statistics Switzerland Marcus Bent
No comments:
Post a Comment