Enterprise zone would bring ecoomic boom

An enterprise zone for Great Yarmouth and Lowestoft will encourage substantial investment and create thousands of new jobs.

MPs across both counties are supporting the campaign to persuade the Government to choose the coastal area as one of 21 zones in the country.

Businesses within the zones will benefit from a reduction in business rates, a relaxation of planning rules to encourage development, and the roll-out of superfast broadband.

Details of the Energy for New Anglia bid, which has been submitted to decentralisation minister Greg Clark, by the New Anglia local enterprise partnership (Lep) were released at a launch event in Lowestoft yesterday.

New Anglia chairman Andy Wood said the enterprise zone would create up to 2,000 jobs and attract 80 businesses by 2015 and around 13,500 jobs and 200 businesses over the lifetime of the zone.

They would be focused on six areas including the outer harbour and Beacon Park in Great Yarmouth and the Powerpark and Riverside Road in Lowestoft, as well as Mobbs Way, the South Lowestoft industrial estate, and the Ellough Business Park, near Beccles.

The zone would also draw in £200m of extra business rates, which the government has said can be spent in the area to support economic growth.

Great Yarmouth MP Brandon Lewis said it was potentially the biggest boost in the area for 30 years, putting it on the map nationally and reminding companies looking to invest that it was good place to do business. For companies already here and looking to expand, there was a really good impetus to do so.

John Best, chief executive of the East of England Energy Group (EEEGR), said the application for an enterprise zone was well received in Great Yarmouth and Lowestoft because it drew on the strengths of the energy industry built up over the last 45 years.

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