Enterprise Zones (EZ) were set up by Government in 2011. The zones are specific geographical areas within Local Enterprise Partnership’s boundaries which provide tax breaks and vital Government support to businesses basing themselves within them. There are 48 EZs in total across England driving clusters around centres of excellence for key sectors such as financial services, bio-sciences, digital and creative industries, advanced engineering, automotive and renewable energy.
The LLEP area is fortunate to boast two Enterprise Zones, MIRA Technology Park and the multi-site Loughborough and Leicester Science and Innovation Enterprise Zone. Each site has a distinct commercial offer to the market targeting high-value employment uses which capitalise on our local strengths in research, development and innovation. Part of the multi-site EZ, Charnwood Campus, is also a Life Science Opportunity Zone supporting the growth of the UK Life Sciences industry in the Midlands.
EZs are a fantastic opportunity for both new and expanding firms. Companies locating within them can benefit from significant advantages, such as:
- Business rate discount worth up to £275,000 per business over a 5-year period
- Simplified local authority planning, for example, through Local Development Orders that grant automatic planning permission for certain development (such as new industrial buildings or changing how existing buildings are used) within specified areas
- Access to superfast broadband
For general information about EZs, visit the Government’s Enterprise Zones website.