The Humber Local Enterprise Partnership and Renewable Energy Promotion
Following the endorsement of the Humber Local Enterprise Partnership ("LEP") an application has been submitted to the Government for the Humber Renewable Energy Super Cluster Enterprise Zone, which according to reports will include the Green Port Hull development, Queen Elizabeth Dock, and part of the Able Marine Energy Park on the South Bank.
The previous Budget Report contained a number of benefits that will be made available to any businesses located within an Enterprise Zone, including:
1. 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;
2. 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;
3. Radically simplified planning measures will be implemented, although the Budget Report does not actually state what these will be. It is anticipated that one potential measure may be the granting of Local Development Orders within each zone, which will provide deemed planning permission for specific development or specified classes of development; and
4. Superfast broadband, which will be achieved through guaranteeing the most supportive planning environment and, if necessary, public funding.
Twenty nine Enterprise Zone proposals have been submitted in total to the Government, with only ten places available. The other proposals include a Yorkshire Coast Enterprise Zone based on the Scarborough Business Park and the South Humber Bank Gateway Enterprise Zone.
Applications will be assessed against three key criteria of success, including the ability to deliver growth and jobs, value for money and implementation, and it is expected that the winning bids will be announced at the end of this month.
This application process follows the creation of eleven Enterprise Zones announced in the Budget earlier this year.
This article is for general guidance only. It provides useful information in a concise form. Action should not be taken without obtaining specific legal advice.