News - 04 April 2016

Six Midlands’ Enterprise Zones have generated more than 7,000 jobs says study

More than 7,000 jobs were attracted to Enterprise Zones in the Midlands – including the Nottingham and Derby Enterprise Zone, invested in by the D2N2 Local Enterprise Partnership – over three and a half years, according to a new Government report.

Enterprise Zones are large areas set-up to attract and grow businesses; which offer incentives such as tax and business rate reductions, and access to superfast broadband, for companies who locate to them. There are currently 24 Zones in the UK – each of which can contain multiple sites – with more Zones to be set-up, announced in last month’s (March) Budget.

A new report by the Department for Communities and Local Government (DCLG) looked at jobs growth on Enterprise Zones, between April 2012 (when the first Enterprise Zones were set-up) and September 2015, and revealed that Midlands’ Enterprise Zones attracted 7,314 jobs to be based at them over that period – or just under a third of the 23,786 jobs at all 24 Enterprise Zones, over the three and a half years. The data was not broken down further than regional level.

The six Midlands’ Enterprise Zones are:

Each Enterprise Zone is overseen by a Local Enterprise Partnership. These are private sector-led Partnerships between business, local authorities, skills and training providers, and others which work to promote economic growth and create jobs in their area (D2N2’s covers Derby, Derbyshire, Nottingham and Nottinghamshire).

The DCLG data report adds that UK Enterprise Zones have created 23,786 jobs, become home to 635 businesses and attracted £2.4billion in private sector investment since April 2012.

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.”

To see the most recent figures for each region, click here

To find out more about enterprise zones, click here

Media wanting more information on the above can contact Sam Burbage, Social Media and Marketing Officer at the D2N2 LEP on 01159 578254 or by email: sam.burbage@d2n2lep.org

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