Out-Law News 1 min. read
25 Feb 2013, 5:19 pm
Pickles said the funding, which is part of the Government's economic growth strategy, is aimed at unlocking business sites by providing the necessary infrastructure, such as road links or reconfigured site layouts.
“Economic growth is this government’s biggest priority and Enterprise Zones are the engine room of that strategy," said Pickles. "They are a fantastic way to attract the jobs and business investment that local areas need. This new £59 million fund will turbo charge that engine by turning shovel ready sites into job ready sites," he said.
“Enterprise Zones have all the raw ingredients and growth incentives - simplified planning, low tax, super fast broadband and inward investment - they need to translate their potential into jobs and growth success. This is an opportunity to lay the infrastructure foundations so they are ‘gift wrapped’ ready to house new businesses," said Pickles.
“It is time for Enterprise Zones to take up the gauntlet of growth. Local Enterprise Partnerships (LEPs) can do more to make zones realise their potential sooner. The government is determined to work flat out with partnerships to clear any roadblocks in their zone’s path so they can forge ahead and deliver the jobs the country’s economy needs,” he said.
The funding is part of the Government's £474m Local Infrastructure Fund which Chancellor George Osborne announced as part of his Autumn Statement last December.
There are 24 Enterprise Zones made up of 142 cities across the country. Pickles said he has asked LEPs to have delivery plans in place for all 24 zones by the start of the next financial year.