One of the leaked stories prior to this weeks budget was the possibility of Enterprise Zones making a comeback in the Midlands and North. Their exact location was however a closely guarded secret.
Well yesterday the details were announced. The chancellor confirmed plans to establish 21 new enterprise zones across England that will seek to stimulate selected areas of the country through tax breaks, reduced planning restrictions and “superfast” broadband. And a site in Nottingham has been chosen as one of the first tranche of 11 new Enterprise Zones.
The Boots site in Lenton will receive a share of £100m investment to boost economic growth in the area.
Boots currently employs 7,000 people at its head office on part of the site, but up to 100 acres (40 hectares) of vacant land is available to be redeveloped – it is this land which gains enterprise zone status. The site according to the City Council could create between 5,000 and 10,000 new jobs locally and result in much-needed economic growth in our area.
This is certainly a boost for the city, although it remains to be seen if growth on the Enterprise Zone will occur at the cost of other city sites.
So a good week for Nottingham with this announcement, the confirmation of funding for route 2 of the tram, the unveiling of the Broad Marsh redevelopment and Victoria Centre extension (not this week but recent!).
Nottingham really appears to be getting back on track, let’s hope this momentum continues.
Now all we need are the A453 improvements reinstating – or is that asking too much?