English Enterprise Zones can now apply for extra funding to finish infrastructure projects.

Tuesday 26 February 2013

Enterprise Zones in England are being invited to apply for additional funds to develop key infrastructure.

Investment totalling £59 million has been made available through the Local Infrastructure Fund, announced by the chancellor in the last Autumn Statement, to complete major projects that will then prepare the ground for new businesses to set up

This could mean updating energy or water supplies to sites, reclaiming contaminated land, or even new road developments to make land more accessible.

As a result, engineering, energy and construction contractors are likely to benefit from the initial investment, as well as the opportunities created by burgeoning industry.

Enterprise Zones will offer tax relief and simplified planning procedures in order to encourage firms to open sites around the UK as part of the government’s attempt to boost economic growth and job creation.

Local Enterprise Partnerships have already been asked to put in place delivery plans for all 24 zones, which include 142 individual sites, by the end of this financial year.

By Victoria McDonnell

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