Enterprise Zones have created over 10,000 jobs in the Midlands – including the Nottingham and Derby Enterprise Zone, invested in by the D2N2 Local Enterprise Partnership – over the last four and a half years, according to a new Government report.
Enterprise Zones are set-up to attract and grow businesses. They offer incentives such as tax and business rate reductions, and access to superfast broadband. There are currently 48 Zones in the UK – each of which can contain many sites. There are also some Enterprise Zones in rural areas.
A new report by the Department for Communities and Local Government (DCLG) is now published. It looks at Enterprise Zones between April 2012 and September 2016. Findings from the report show that Midlands’ Enterprise Zones attracted 10,883 jobs over four years, 30% of the 35,755 jobs generated by Enterprise Zones in England. The data was not broken down further than regional level.
The eight Midlands’ Enterprise Zones are:
- The Nottingham and Derby Enterprise Zone. This includes 5 sites across the D2N2 area including Infinity Park in Derby (pictured). – overseen by the D2N2 Local Enterprise Partnership (LEP).
- Birmingham – 26 city centre sites – Greater Birmingham and Solihull LEP.
- The Black Country Zone (sites in Wolverhampton and Darlaston) – Black Country LEP.
- Skylon Park (sites in Hereford) – overseen by the Marches LEP.
- MIRA Technology Park (sites in Nuneaton)– overseen by Coventry and Warwickshire LEP.
- Ceramic Valley – Stoke and Staffs LEP
- Luton Airport & Northampton Waterside Enterprise Zones – both overseen by SEMLEP
Each Enterprise Zone is overseen by a Local Enterprise Partnership. These are private sector-led Partnerships which work to promote economic growth and create jobs in their area. D2N2’s covers Derby, Derbyshire, Nottingham and Nottinghamshire.
The Government report adds that UK Enterprise Zones have created 35,744 jobs, become home to 822 businesses and attracted £3.3billion in private sector investment.
David Ralph, D2N2 Chief Executive said: “Enterprise Zone development is at the core of the D2N2 Strategic Economic Plan and key to delivering our strategy of creating 55,000 new private sector jobs in key industries, over ten years.”
Image shows Derby’s iHub, a key part of the Infinity Park Enterprise Zone site
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