business rate discount of upto £55,000 for five years
enhanced capital allowance for plant & machinery
simplified planning procedures
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What is an Enterprise Zone?
Enterprise Zones are designated areas across England that provide financial incentives and Government support. They are great places to do business especially for both new and expanding firms. Established in 2012, Enterprise Zones are at the heart of the Government's long-term economic plan, supporting businesses to grow. What are the benefits?
• Up to 100% business rate relief (BRR) worth up to £275,000 per business over a 5-year period
• Simplified local authority planning, through a Local Development Order (LDO), which grants automatic planning permission for certain development within specified areas
• 100% enhanced capital allowances (tax relief) to businesses making large investments in plant and machinery within specified areas
• Government support to ensure that superfast broadband is rolled out throughout the zone, and, if necessary, public funding
What are the Community Benefits;
All business rates growth generated in an Enterprise Zone is kept by the Local Enterprise Partnership and local authorities in the areas for 25 years to reinvest in local economic growth. Enterprise Zone key facts
• Kingmoor Park Enterprise Zone welcomes all business
• Target sectors include Advanced Manufacturing, Energy and Logistics
• 175acres of development land
• 1million sqft of built space
• Business Rates Reduction (BRR) zones and Enhanced Capital Allowance (ECA) zones
• Onsite Management and 24hour Security
• Located on Junction 44 of the M6
• Cumbria’s only Enterprise Zone