Details announced of Enterprise Zone benefits for Daedalus
19 September 2011
Following the recent Government decision to make the land at Daedalus, a former MoD site based at Lee-on-Solent, the first Enterprise Zone (EZ) in the south of England, the Solent Enterprise Partnership can now outline the potential benefits for the region and businesses.
Enterprise Zone status provides a unique and exciting opportunity for a sustainable, high quality mixed-use development with potentially far-reaching benefits for the Solent area. The Solent Enterprise Zone at Daedalus can revitalise and transform an area with a strong legacy in advanced manufacturing in the marine, aerospace and aviation sectors.
The benefits to businesses at Daedalus will be
• A 100% business rate discount worth up to £275,000 over a five year period, for businesses that move into an Enterprise Zone during the course of this Parliament
• All business rates growth within the zone for a period of at least 25 years will be retained and shared by the local authorities in the LEP area to support their economic priorities
• Government and local authority help to develop radically simplified planning approaches in the zone; and
• Government support to ensure superfast broadband is rolled out in the zone. This will be achieved through guaranteeing the most supportive environment and, if necessary, public funding.
For further information:
Details about the development site can be found at www.invest-in-portsmouth.co.uk and Solent Enterprise Zone
The Solent Local Enterprise Partnership has already had substantial and immediate interest in the Enterprise Zone, and associated benefits, from a wide range of businesses. A register of interest has been created to ensure that the Solent LEP has as much information as possible on businesses looking at the site in order to facilitate the best possible development strategy. The register will also allow us to ensure that interested businesses are kept informed of progress with the site and those registered will receive further briefings as progress is made.
If you would like to register interest from your business in the Daedalus site, please send us your contact details and a brief description of your business. We would particularly like to hear from you if your business is involved in advanced manufacturing, technology, the marine or aviation industry.
A dedicated communications channel for the new Enterprise Zone is being set-up. However, in the interim, if you have any enquiries regarding the Enterprise Zone please email or telephone 023 8083 2256.
