£23m released for Enterprise Zones to aid burgeoning recovery

Local Growth Minister Kris Hopkins MP announced on 28th May 2014 that £23 million of essential infrastructure investment will bring more jobs to Bristol, Manchester, Great Yarmouth and Leicestershire as part of the government’s long-term economic plan.

The new money will be used to fund essential road, utility line and building construction vital for increasing business opportunities at enterprise zone sites.

Kris Hopkins announced the money on a visit to the famous MIRA Technology Park Enterprise Zone in Leicestershire to see how Enterprise Zone status is transforming what was once a small former government funded research centre into reputedly Europe’s most advanced transport technology facility, which will employ more than 2,500 by 2021.

Kris Hopkins MP said:

“Enterprise zones are showing that our long term economic plan to secure a better future is spreading businesses, jobs and skills training across the country. Today’s cash injection will give 4 zones the raw ingredients to make their sites a stronger, more competitive business environment that will attract new jobs for hardworking local people.

“It was fascinating to see MIRA, 60 years on, developing the kind of ground-breaking technology that is putting Leicestershire and the UK at the forefront of the automotive industry. The funding was the remaining part of a £550 million package of support for enterprise zones to complete critical ‘nuts and bolts’ infrastructure that will turn sites into prime economic land.”

Since their start 3 years ago, enterprise zones have created over 9,000 jobs, attracted over 300 businesses and secured £1.2 billion of private sector investment.

The infrastructure investment will fund:

  • Bristol Temple Quarter Enterprise Zone – awarded £6 million for commercial development in an around the new city centre
  • MIRA Technology Park Enterprise Zone (Leicestershire) – awarded £7.4 million for the construction of a new spine and distribution roads with a roundabout to increase access to the Hinckley site
  • Great Yarmouth and Lowestoft Enterprise Zone (Norfolk) – awarded £3 million to deliver 5,700 square metres of speculative office and industrial units, as well as road and utilities for Beacon Park, Great Yarmouth
  • Manchester Enterprise Zone – awarded £6 million to open up key sites to attract companies in the healthcare and medical technology sectors

 

SRJ / LCB                                                                                                                                                   28/05/2014

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