Overcast

Overcast

max temp: 9°C

min temp: 5°C

ESTD 1874 Search

Budget: New Anglia LEP welcomes extension to Enterprise Zone tax incentives

18:40 19 March 2014

Andy Wood, chairman of New Anglia LEP.

Andy Wood, chairman of New Anglia LEP.

Sarah Groves

Businesses locating to the Great Yarmouth and Lowestoft Enterprise Zone will benefit from tax incentives for a further three years, under measures announced by the Chancellor in the Budget.

shares

This means that firms moving to the Enterprise Zone, which is co-ordinated by the New Anglia Local Enterprise Partnership (LEP) will receive business rate discounts for five years, with the offer now extending until March 2018.

The support is being offered as part of the Government’s long-term plan to rebalance the economy towards manufacturing and exports, and will help the Great Yarmouth and Lowestoft Enterprise Zone achieve its ambition is to create 9,000 new jobs by 2025.

“Today’s Budget is a vote of confidence for New Anglia and will be welcomed across the Great Yarmouth and Lowestoft Enterprise Zone.” said Andy Wood, chairman of New Anglia LEP.

“We wrote last week to the Chancellor making a strong and robust case for business rates concession and therefore we are encouraged that he has listened and there will be an extension for a further three years.

“Business will be encouraged that measures will be put in place to introduce a £7billion package to cut energy costs for manufacturers and to double the lending available for export finance.

“New Anglia is home to the East of England Energy Zone and hundreds of firms are proud exporters around the world and these announcements will make a difference.

“We should also welcome measures that support regional airports such as Norwich International and the doubling of funding for exporters to £3bn which will make a real difference to those looking to export into Norfolk and Suffolk”, added Mr Wood.

shares

0 comments

Strawberry Stores in Sudbury was hit by an armed robber

An 18-year-old man was arrested in Sudbury following an armed robbery at a convenience store in the town this afternoon.

The land on Church Lane, Claydon.

Proposals for a travellers’ site to the edge of a Suffolk village have been refused by the planning authority.

Essex Police escort a delegation from the Saudi embassy during a visit to Salary Brook in Greenstead, Colchester, to see the scene where Nahid Almanea was killed last June.

Detectives investigating the murder of Nahid Almanea met with officials from the Kingdom Saudi Arabia (KSA) in Colchester today.

Shirley Ison may have made a fatal error which caused her car to collide with a tree

Driver error is believed to be the cause of a road accident in which a woman was killed, it was ruled this week.

Easter fun at Kesgrave Library. Tabitha and Sebastion Degiorgio.

Eggs – chocolate and real ones – were on everyone’s minds as a library held a family event to mark the Easter season.

Extra trains for ITFC Fans

Extra train services have been arranged for Ipswich Town fans on Good Friday.

Hagon pleaded guilty to a charge of causing serious injury by dangerous driving and was sentenced at Chelmsford Crown Court on Tuesday, March 31 to two years and eight months imprisonment and disqualified from driving for five years, after which he must take an extended test, Essex Police said.

A driver has been jailed for two years and eight months following a serious collision in High Garrett, near Braintree.

Planners have refused homes on vacant land at Felixstowe's Haven Exchange site.

Proposals for 61 homes near the Port of Felixstowe have been refused because of the need to keep as much employment land available as possible.

Chelmsford Crown Court

A woman has been left permanently disabled after a driver who had taken a cocktail of drink and drugs smashed into her car.

Ian (L to R) and Debbi Tayler along with Tim Cocker standing with the rubbish they have collected from alongside the A12 in Stratford St Andrew

Littering motorists have been criticised for their “thoughtless” behaviour after a dozen large bin bags of rubbish – including a pair of pants – were collected from the roadside.

Most read

Most commented

Topic pages