Nottingham Enterprise Zone gets bigger
THE Nottingham Enterprise Zone is to be extended to float over three business parks in an effort to stimulate new jobs.
The prime minister, David Cameron, announced plans for a 96-acre enterprise zone on part of the Boots site at Beeston a year ago.
Now it is to be extended to cover the Nottingham Science Park on University Boulevard (six acres), Beeston Business Park, (25 acres) and 12 acres near the Queen's Medical Centre zoned for the Medipark.
The idea for the Medipark is that it becomes home to businesses providing services to hospitals such as the QMC.
The enterpise zone will now span 56.5 hectares (140 acres) with the potential to create up to 10,000 new jobs.
The announcement was made at the international property fair, MIPIM, which opened in Cannes in the South of France today.
The extended zone will be available for new businesses, who will receive business rate discounts for five years and super-fast broadband.
This should be attractive to developers and investors.
Members of Team Nottingham, which includes Nottingham City Council and Invest in Nottingham, made the announcement at the international property show.
Tim Garratt of Innes England, which is part of Team Nottingham, said: "The extension is great news for the city.
"The Government has obviously decided that there is sufficient demand to extend the original area, with the view it will kick-start business.
"The extension to the Enterprise Zone will make Nottingham more competitive in the wider market place and a more attractive location for potential investors, a really good thing for Nottingham.
"It is a great offer to bring here to an international investment event."
Councillor Jon Collins, leader of Nottingham City Council, described the announcement as "excellent news for the city".
"The new, larger Nottingham Enterprise Zone will not only drive growth and boost the regional economy by creating up to 10,000 new jobs, but it will also mean the redevelopment and regeneration of an enormous area of the city," he said.
George Cowcher, chief executive of the Derbys and Notts Chamber of Commerce, said: "This is welcome news and will be fully supported by the business community in Nottingham.
"Anything that will attract new investment and companies into Nottingham to create jobs and contribute to local economic growth is a good thing. The key now is to get the Nottingham Enterprise Zone market-ready as quickly as possible so it can get off to a strong start."