An Introduction to the Cheshire Science Corridor Enterprise Zone

Science Parks Development UpdateThursday 12 May 2016

Agenda

Overview of the Cheshire Science Corridor and its strengths

Benefits of Enterprise Zone status

The four Enterprise Zone locations

Are Enterprise Zone sites worth it?

Find out more…

Client Name | Cushman & Wakefield

Cheshire Science Corridor Enterprise Zone

Client Name | Cushman & Wakefield

Strengths of the Cheshire Science Corridor

Established business base in key growth sectors

Highly skilled, productive and entrepreneurial labour market

Well connected by road, rail, air and water

Supportive public sector

Client Name | Cushman & Wakefield

Benefits of the Enterprise Zone

Business Rate Discount (Up to 100% or £275,000 over 5 years)

First year Enhanced Capital Allowances (selected Assisted Areas sites)

Potential for re-investment of Business Rate Revenue

Clear and streamlined planning

Commitment to enhance broadband infrastructure

Enhanced market profile at national and international level – UKTI

Dedicated Enterprise Zone Growth Manager

Collaboration with research and education establishments - Skills

Attract 20,000 new jobs and 500 businesses to Cheshire and Warrington

Client Name | Cushman & Wakefield

The Enterprise Zone Sites

Site Sector Focus Key Incentive

Alderley Park(Cheshire East)

Life Sciences BRD

Birchwood(Warrington)

Energy and Nuclear BRD

Thornton Science Park(CWAC)

EnergyEngineeringAutomotive

BRDECA

Ellesmere Port Sites(CWAC)

Advanced ManufacturingEnvironmental TechnologiesAutomotive

BRDECA

Client Name | Cushman & Wakefield

Are Enterprise Zones worth it…?

Mixed reviews of EZ success: Stimulate investment and accelerate momentum

Displacement and long term sustainability

Expensive (cost per job)

This round of Enterprise Zones: Area of focus – targeted established market attractive locations

Displacement – multi-site EZ and scale of financial incentives

Strategic investment – skills and infrastructure

Strategy – focus on underlying drivers of economic growth

Client Name | Cushman & Wakefield

Find out more…

www.cheshiresciencecorridorez.com