Investing in an area that has been designated as an enterprise zone provides businesses with certain benefits such as business rate discounts, a simplified planning process, superfast broadband as well as specific enhancements to suit local requirements such as increased capital allowances for certain plant and machinery.
The government will extend the enterprise zones in Manchester, Mersey Waters and the Humber. The designation of the Leeds Enterprise Zone will also be changed to support energy and waste technology businesses and the enterprise zone at Tees Valley will be extended for oil and gas decommissioning. The government will also create a new enterprise zone at Blackpool.
These extensions will benefit businesses trading and investing in these specific localities.