Tax breaks boost for local businesses

Tax breaks, relaxed planning laws and superfast broadband will be offered to businesses as part of a new Black Country Enterprise Zone.

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Tax breaks, relaxed planning laws and superfast broadband will be offered to businesses as part of a new Black Country Enterprise Zone.

The region is one of 21, alongside Birmingham and Solihull, to get one of the zones announced by Chancellor George Osborne in the budget.

It will be similar to that offered under Margaret Thatcher's government which allowed the Merry Hill shopping centre in Brierley Hill to be built.

Today a shortlist was being drawn up by the Black Country Local Enterprise Partnership, which will decide where the Enterprize Zone will be located.

One favourite is the 226-acre i54 site, close to the M54 on the border of  Wol-verhampton and Staffordshire.

Two companies, aerospace giant Moog and laboratory firm Eurofins, have agreed to move there but the vast majority of the £67 million business park remains unoccupied.

The Enterprise Zone will offer up to 100 upfront capital allowances on the cost of  buildings, simplified planning applications and discounts on business rates.

Councils will also be able to keep the business rates they collect for 25 years rather than sending them on to the Government. It will have a business rate discount worth up to £275,000 over five years for firms that move into the area.

Stewart Towe CBE, chairman of the Black Country LEP, said: "I am absolutely delighted that the Black Country has been given this opportunity."

Mr Towe added talks were ongoing for the location of the new zone and an announcement is expected next week.

Wolverhampton's regeneration chief Councillor Peter Bilson added: "If Wol-verhampton is chosen for the Enterprise Zone then i54 is one of the obvious sites we have to look at."

Comments for: "Tax breaks boost for local businesses"

Martacus Red

How the hell does creating an enterprise zone on the i54 site help to bring jobs to places, like Dudley, West Bromwich & Walsall? All this will do is suck jobs & business's out of other areas.

Business's they should go after are one's that currently not in the UK

stjoe

A favourite site is where? Why not in the heart of the Blackcountry? Wolverhampton and stafford (Hardley the real Blackcountry is it?)

Pragmatic Design

We'd love the i54 site to be classified as the Black Country Enterprise Zone (but we're biased because we're practically on its doorstep already!)

PJW Holland

Would someone clairfy to which authority the business rates will be paid if the I54 is designated the "Enterprise Zone". It seems to be the case that "South Staffs" is the beneficiary of most of this since the development straddles the border while Wolverhampton is lumbered with all of the costs associated with the development.. and the nuisance of feeder roads which wealthy S Staffs does not want.

Outspoken

So basically everywhere outside of the 'zone' can go to hell. Hey, thanks for that. Thanks also for using our money to bail out and reward the bankers. Thanks for using out money to bail out the EU. In fact, thanks for nothing. Please leave us peace..we have a country to fix, not break with gutless propaganda campaigns aimed at subverting the general populace into falling for your relentless tripe. Bye.