Enterprise Zones
Enterprise Zones

The following Property guidance note provides comprehensive and up to date legal information covering:

  • Enterprise Zones
  • What is an Enterprise Zone?
  • Benefits of EZs
  • Enhanced capital benefits
  • Weaknesses
  • Potential solutions

What is an Enterprise Zone?

Enterprise Zones (EZs) are areas of land that offer a range of benefits to businesses, with the aim of attracting new businesses to that area, or promoting investment from existing businesses. EZs vary in size, from individual business parks to whole cities or regions. The main advantage of EZs is that they stimulate rapid investment from businesses in the short term, create new jobs and create a burst of momentum that normally lasts up to three years.

Benefits of EZs

EZs will benefit from:

  1. a 100% business rate discount worth up to £275,000 over a five-year period, for businesses that move into an EZ

  2. business rates growth within the EZ for a period of at least 25 years to be retained and shared by the local authorities in the area

  3. government and local authority help to develop radically simplified planning approaches in the zone, eg existing Loc