By Richard Johnstone | 23 February 2015
The 24 enterprise zones in England have created more than 15,000 jobs since being formed in April 2012, communities secretary Eric Pickles has revealed.
Publishing an update on the progress of the areas, which give private firms business rate relief and a simplified planning regime, Pickles said they had attracted over 480 businesses and more than £2.1bn in investment across automotive, aerospace, and pharmaceutical sectors.
Activity in the zones, which are intended to form part of a 25-year project to rebalance the economy away from London and the south east, was picking up pace, he added.
‘We’re seeing activity across the country from established sites attracting some of the biggest names in business to derelict sites being brought back to life. That’s because our long-term economic plan is giving businesses the confidence to invest.
‘They know that enterprise zones work and are making the most of the top-class incentives and world-class infrastructure on offer. And that’s great news for local economies and communities because it’s these kinds of businesses that have the vision to grow, creating thousands more jobs for hard-working people.’
Among the examples highlighted was the opening of a £22m advanced manufacturing centre at Northampton’s Enterprise Zone last week by manufacturing firm Cosworth, which will enable it to fulfil £75m of contracts to produce components for high-performance vehicles.
Others include the start of a £290m project for a renewable offshore energy development in the Humber, led by Siemens, and the completion of 100,000 square foot office development in Bristol’s Temple Quarter Enterprise Zone.
