Summary
A successful Enterprise Zone bid for Plymouth has the potential to create up to 2,000 new jobs and grow the city's economy by Pounds 100 million, according to new research. Plymouth is one of 29 locations across England bidding to become one of 10 Enterprise Zones, which will be announced this summer. Enterprise Zones area key plank of the Gover nment's growth strategy and are aimed at stimulating business growth through tax breaks, superfast broadband facilities and simplified planning re-gimes. Eleven were announced by Chancellor George Osborne during the Budget, in March, when he said that a further 10 slots would be up for grabs over the summer. A study by the Regional Economic Development Group at the University of Plymouth's Business School has found that securing EZ status would be key to the city's economic wellbeing as a means of picking up the slack caused by a reduction in the public sector.
The research found that, if the city failed to get an EZ, it could see it experience negative growth until 2016, causing unemployment to rise from 7.3 per cent in 2011 to more than 10 per cent by 2014, with the prospective loss of more than 3,000 jobs.See the full content of this document
Extract
100m
By contrast, the RED Group found that a successful bid had the potential to si...
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