New Enterprise Zones Aim to Boost Economic Growth

New Enterprise Zones Aim to Boost Economic Growth
18 August 2011 John Moore

The UK government has announced additional locations for new enterprise zones as it tries to boost economic growth across the country.

In order to boost economic growth across England the new enterprise zones will by provide cheaper business rates, super fast broadband and lower levels of planning control. New zones were announced at sites in Warrington, Cornwall, Gosport, Norfolk, Hereford, Kent and Oxfordshire in addition to sites also planned within Essex, Suffolk, Northampton, Leicestershire, Cambridgeshire and the Humber Estuary.

Plans for the twenty one nationwide zones were originally set out in George Osborne’s March (2011) Budget and bids to host one of the zones were submitted by 30 local groups, made up of council and business leaders.

The enterprise zones previously announced were: Leeds, Sheffield, Birmingham, Bristol, Liverpool, London, Manchester, Derby, Nottingham, the Black Country, the Tees Valley, the West of England and the North East.

“We are determined to do everything we can to make Britain the best place in the world to start and grow a business. Enterprise Zones are a major step towards delivering this – cutting business taxes, easing planning restrictions and giving business the tools they need to invest and expand.

These new Enterprise Zones will be trailblazers for growth, jobs and prosperity throughout the country”.

Prime Minister David Cameron

“It is vital that we create balanced economic growth across the country. It is time for us to help every part of the country to grow and realise its potential.”

The Chancellor, George Osborne

In order sustain economic growth the UK needs people to set up new businesses and to develop a more entrepreneurial culture en masse.

I am uncertain whether incentives like the enterprise zones will help achieve this objective as it is not aimed at helping people at start-up level. For every new company start there is at least one less person requiring state intervention which frees up resources for further investment elsewhere.

The complete list of new locations announced:

  • Humber Estuary Renewable Energy Super Cluster
  • Daresbury Science Campus, near Warrington and Runcorn
  • Newquay AeroHub in Cornwall
  • The Solent Enterprise Zone at Daedalus Airfield in Gosport
  • MIRA Technology Park in Hinckley, Leicestershire
  • Rotherwas Enterprise Zone in Hereford
  • Discovery Park in Sandwich, Kent and Enterprise West Essex in Harlow
  • Science Vale UK in Oxfordshire
  • Northampton Waterside
  • Alconbury Airfield, near Huntingdon in Cambridgeshire
  • Great Yarmouth in Norfolk
  • Lowestoft in Suffolk
John Moore has over 20 years experience of training and developing Managers, Coaches, Consultants and businesses. As Managing Director of Exponential Training, John researches, speaks, blogs and writes about how to improve performance. He also designs and delivers engaging, fun and interactive learning programmes. John is a Fellow Chartered Manager and has worked with managers and organisations in over 20 different countries.

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