Enterprise zones are specific geographical areas within local enterprise partnerships’ boundaries. Enterprise zones can offer a range of incentives for businesses to start up or expand, such as:
- a 100% business rates discount worth around £275,000 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
- government grants to install superfast broadband
- Enhanced Capital Allowances in some zones
All business rates growth generated within an enterprise zone will - for at least 25 years - be kept and used by the relevant local enterprise partnership and local authorities to reinvest in local economic growth.
You can find out more about each of the 24 zones on the enterprise zones website.