News - 07 April 2016

Companies can go to infinity and beyond – as business benefits are extended at D2N2 Enterprise Zone site

An extension to the business benefits for companies of being located at Nottingham and Derby Enterprise Zone’s Infinity Park (pictured) has now gone live.

Infinity Park, just south of Derby city centre, is a 100 acre site being developed as a commercial and technology park. In autumn 2014 it was announced that it would be made part of the Nottingham and Derby Enterprise Zone. It is hoped the Park will eventually support up to 8,000 hi-­tech and knowledge based jobs.

The D2N2 Local Enterprise Partnership – the private sector-led partnership of business, local authorities, skills and training providers, and other organisations which promotes economic growth and jobs creation across Derby, Derbyshire, Nottingham and Nottinghamshire – is investing £13.65million (from its £192m Local Growth Fund allocation) over the next six years, into developing vital infrastructure at the Infinity Park site, to encourage businesses to locate there. Infinity Park recently opened its first completed building, the Innovation Centre.

Now businesses are to receive even more benefits from being located at Infinity Park.

From this month (April), companies locating onto the Park will be able to claim back the tax they pay when buying plant equipment and machinery, to grow their businesses. This extension was originally announced by the Chancellor, George Osborne, in his 2015 Autumn Statement.

The extension is in addition to the wider benefits received by companies based in Enterprise Zones; such as tax breaks, discounted business rates and access to faster broadband.

Earlier this month new Government figures showed that the UK’s current 24 Enterprise Zones – each of which can contain multiple sites – have attracted close to 24,000 jobs to them, since the first ones were established in April 2012.

David Ralph, Chief Executive of the D2N2 Local Enterprise Partnership, said: “The Nottingham and Derby Enterprise Zone presents a great investment and growth opportunity for businesses, both those already in the area and those new to it.

“Extending the benefits to business of being based at the Infinity Park site in Derby, is a welcome boost to a city already being marketed as a UK capital for innovation.”

For more information on the Nottingham and Derby Enterprise Zone, click here

For further information on the D2N2 Local Enterprise Partnership’s work contact Sam Burbage, Social Media and Marketing Officer, at the D2N2 LEP, on 0115 957 8254, or by email sam.burbage@d2n2lep.org

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