Celebrations and commiserations after Enterprise Zone decision
AFTER months of preparation, consultations and nail biting, the Government this week unveiled the winners and losers in the race to run Enterprise Zones across the West Midlands.
In March’s Budget, Chancellor George Osborne announced the locations of 10 EZs, an 11th for the capital and that ministers would receive bids for a further 10 in as yet undecided locations. This number has since been bumped up to 11.
To recap, Enterprise Zones were a flagship policy of Margaret Thatcher’s Government in the 1980s which led to wholesale redevelopment of previously derelict areas – Merry Hill Centre in Dudley and Canary Wharf, in London’s Docklands, to name but two.
EZ Version 2.0 is slightly different in that they are about keeping business rates in a region – instead of them being farmed back to central Government – tax incentives, superfast broadband and an easing of planning process.
Our Local Enterprise Partnerships, the bodies set up to replace the out-going Advantage West Midlands, submitted bids for six EZs in south Kidderminster, Coventry Airport, a business park ‘triangle’ near Stoke, an ‘Enterprise Belt’ focussed on the M42, Rotherwas Park in Hereford and MIRA Technology Park near Nuneaton.
The Hereford and MIRA plans were deemed worthy of having EZ status bestowed upon them by Government on Wednesday morning which left the others licking their wounds but defiant nonetheless.
Of the 10 EZs initially unveiled by the Chancellor, the West Midlands was granted two in Birmingham/Solihull and the Black Country.
We’ve known for a while the Greater Birmingham LEP has chosen the city centre for its EZ but this week the Black Country LEP finally announced it would house one across on two sites at i54, in south Staffordshire, and James Bridge Copper Works, in Darlaston.
Now the dust has settled on the celebrations, the work starts in earnest for the LEPs as the get to grips with delivering on the promises of major employment and regeneration which they heralded as part of the submission process.
Related headlines:
Click on the headlines below to see all our in-depth coverage from this week and following this link to explore our full story archive:
LEPs defiant after Enterprise Zones rejected
Black Country LEP courts Jaguar after i54 EZ decision
