About Enterprise Zones
The Enterprise Zones represent 45 locations across England which are part of a Government strategy to make the UK the best place in the world to start and to grow a business.
Each Enterprise Zone offers a combination of reduced taxes, simpler planning rules and a package of financial incentives to encourage businesses to establish themselves there. Many comprise employment clusters, where businesses from the same sector are co-located within the Zones for their mutual benefit.They have enjoyed considerable success so far, with over 400 new business created employing over 12,500 people and £2bn private investment committed to their succcess.
All of the Enterprise Zones offer discounts on the amount that must be paid to the local council for essential services – this Business Rate Relief scheme can cover up to 100% of these costs, to a maximum of £275,000 over five years.
The Enterprise Zones have also made new construction projects more straightforward by simplifying the planning process - the specific details vary by zone, but you may find that building a new factory, office or distribution centre in your chosen location will be exempt from the normal planning process.
Some Enterprise Zones offer additional financial incentives to organisations intending to set up business premises in their areas – for example, companies investing heavily in new plant and machinery may be able to write off one hundred percent of the cost of this equipment against profits in the year in which the purchase is made. This programme of ‘Enhanced Capital Allowances’ can have a value of up to £100 million. Companies considering opening facilities in Enterprise Zones might also want to explore the options offered by the Government's RIO programme, which matches investors to commercial regeneration projects – backed by government and industry - that will lead to jobs and sustainable growth.
Other benefits of establishing a business within an Enterprise Zone may also include lease payment holidays and development funding. The local Enterprise Zone teams will be able to provide you with information on whether your organisation qualifies for these incentives.