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Enterprise zones to bring super-fast broadband to 11 more areas
Hereford and Northampton are among the latest locations to be included in the enterprise zone initiative.
Prime Minister David Cameron and Chancellor George Osborne will today (August 17th 2011) announce that the Conservative-Liberal Democrat coalition is doubling the number of these zones in a bid to promote economic development in areas with low job growth.
Businesses that choose to establish operations in these locations will be able to take advantage of super-fast broadband services, discounted rates, the potential to make use of enhanced capital allowances and lower levels of planning control.
Among the towns, cities and regions that have been included in the scheme are Hereford, Newquay and Northampton. Gosport, Sandwich and Warrington have also made the list.
Birmingham, Bristol, Leeds and Sheffield are among the 11 areas that had previously been chosen by the government to receive enterprise zones.
Commenting on the new announcement, Mr Osborne will explain the initiative is designed to help every part of the country "realise its potential" and will lead to the creation of more than 30,000 new jobs between now and 2015.
"The zones will benefit from over £150 million in tax breaks over four years, new super-fast broadband, lower levels of planning control and the potential to use enhanced capital allowances," he will add.
Zones in Nottingham, Liverpool and Manchester were some of the first to be unveiled by the Conservative-led coalition as part of this year's Budget. At the time, the administration said it was planning to create 21 of these business-friendly locations, but the new announcement takes the total to 22.
Local Government Secretary Eric Pickles remarked: "Enterprise zones are unashamedly pro-growth, with lower taxes and reduced regulations to attract business, but they are also unashamedly localist, keeping power and profits within the local area so communities benefit."