It will be recalled that in the March 2011 Budget, the Government announced the creation of a number of Enterprise Zones (EZs) across the country to stimulate business growth by providing financial incentives directly to businesses and to local authorities to promote business growth in their area.
The Government has announced that it is inviting the Lancashire and the Hull and Humber Local Enterprise Partnerships to develop proposals for two new Enterprise Zones (EZs), bringing the total to 24 from the original 21 (increased to 22) EZs proposed in the 2011 Budget (see FB 115 for a list of the 22 EZs).
This announcement has been made in response to the recent announcement by BAE Systems that it is to cut 3,000 jobs on their sites in Brough, Warton and Samlesbury. The plan is for the two EZs to be up and running by April next year.
Although EZs have been tagged as promoting economic recovery, they are not without their critics. The announcement was shortly followed by criticism of the concept of EZs from the Centre for Cities (CfC). Mark Prisk of CfC suggested that as EZs have a spatial dimension, there is a risk of displacement.
It has also been reported in the Local Government Chronicle that the exact details of the Greater Manchester EZ to be located at Manchester City Airport have been published in a report to be submitted to Pickles for approval by the Greater Manchester Combined Authority. The Greater Manchester EZ was one of four vanguard Zones whose location within the LEP area was announced at the Budget. The proposed zone would cover 286 acres comprising 14 separate sites centred on the airport. The plans include University Hospital of South Manchester's Medipark initiative and the regeneration of Wythenshawe town centre.
03/10/2011 111/11 Chancellor announces plans for two new Enterprise Zones
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