Liverpool Waters development chosen as location for government enterprise zone
David Cameron has confirmed today (19/05/11) that an enterprise zone where tax breaks and fast-track planning will attract new businesses will be set up in Liverpool’s northern docklands.
The Liverpool Waters development, earmarked for skyscrapers and 14,000 apartments, was picked as the location for the flagship measure in yesterday’s Budget.
The move will drive attempts to bring more private investment to the £5.5bn scheme.
Companies moving into the enterprise zone will enjoy business rate relief of £55,000 per year for up to five years, providing a powerful incentive.
Merseyside councils will also keep all the receipts from business rate growth for at least 25 years to spend on their own priorities.
The zone will also be eligible for government cash to introduce super-fast broadband connections.
Chancellor George Osborne said the measure would help struggling areas attract “enduring growth and jobs”.
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