Waveney MP Peter Aldous today spoke of his delight as the New Anglia Local Enterprise Partnership bid for an Enterprise Zone covering six sites in Great Yarmouth and Lowestoft was given the green light by the Government.
Business and local authority leaders predicted the Enterprise Zone will transform Great Yarmouth and Lowestoft, with significant benefits for the rest of Norfolk and Suffolk.
New Anglia’s Enterprise Zone is designed to capitalise on the area’s leading position in the energy sector. It is aims to create up to 2,000 jobs and attract 80 businesses by 2015 and 13,500 jobs and 200 businesses over the 25 year lifetime of the zone.
New Anglia’s Enterprise Zone will benefit from simplified planning rules and a business rate discount for new and expanding businesses.
In addition any increase in business rates will be retained by the Local Enterprise Partnership to support economic development across Norfolk and Suffolk – which could generate tens of millions of pounds over the next 25 years and create more than 10,000 additional jobs in the two counties.
The New Anglia Enterprise Zone is one of 11 given the green light by the Government today, out of a total of 29 bids. The submission was ranked as one of the five best submissions.
Peter Aldous, MP for Waveney said: “The Enterprise Zone is great news for Lowestoft, Waveney and Great Yarmouth. Evidence from the private sector shows that the granting of Enterprise Zone status will make a clear difference. It will be a tipping point for investment.”
Andy Wood, chairman of the New Anglia Local Enterprise Partnership, and chief executive of Adnams, said:
“I'm delighted that the Government has recognised the quality of our bid and has given our Enterprise Zone the green light.
“We are confident that the Enterprise Zone will help create significant numbers of new jobs in Great Yarmouth and Lowestoft and more in the rest of Norfolk and Suffolk.”
Mark Goodall, New Anglia LEP board member and area manager of international energy business Aker Solutions, said:
“This is excellent news not only for Great Yarmouth and Lowestoft but for the whole area. EZ status will give much needed boost to facilitating the further development of the energy supply chain in Norfolk and Suffolk and underpin future jobs growth.
“A tremendous amount of work went into preparing the bid, so today’s announcement deserves a big thank you to the whole bid team, to our MPs and to all the private sector companies that wrote to the Minister with letters of support. We have been given this wonderful opportunity and now is the time to roll up our sleeves and demonstrate that it is the right decision.”
Brandon Lewis, MP for Great Yarmouth, said:
“This is a real triumph for Great Yarmouth and Waveney. An enterprise zone will attract investment and put the East Coast on the economic map. That our bid was successful is a testament to a Government that is interested in and understands and cares about our unique concerns rather than only thinking about the big urban cities.
“I would like to thank everyone who has taken part in the campaign. This is a victory not just for the businesses directly affected and politicians like me, but for the whole community.”
Councillor Mark Bee, Leader of Suffolk County Council and a New Anglia LEP board member, said:
“I am delighted to hear of the designation for Lowestoft and Yarmouth. This is a major incentive to attract new and expanding businesses to the two towns and create much needed jobs. The county council is working closely with Waveney District to help regenerate Lowestoft. By working with Norfolk and Great Yarmouth we can really put the area on the map as an inward investment location.”
Derrick Murphy, Leader of Norfolk County Council and a New Anglia LEP board member, said:
“Great Yarmouth and Lowestoft have many things that bind the two towns together, but in terms of future opportunities; the energy sector is the most significant.
“There are over 500 businesses already involved in the energy sector located in the Great Yarmouth and Lowestoft areas, employing around 10,000 people directly and many more in the various supply chains.
“This announcement furthers our ability to compete, as the business rate and planning benefits within the Enterprise Zone are an attractive proposition to bring more companies into the area, buoyed by our existing expertise base.”
Steve Ames, Leader of Great Yarmouth Borough Council, said:
“This is fantastic news for Great Yarmouth. We are delighted that the Government have recognised the well argued case made by everyone involved with the New Anglia Local Enterprise Partnership, including Great Yarmouth Borough Council.
“Enterprise zone status will give our ever increasing efforts to promote the energy offer in the Great Yarmouth and Lowestoft sub region an important boost - attracting new inward investment and jobs to this area, which will in turn provide significant economic opportunities for our existing energy supply chain and the local economy in general.”
Colin Law, Leader of Waveney District Council, said:
“I am delighted with the decision to designate an Enterprise Zone for Lowestoft and Great Yarmouth, and capitalise on the area's leading position in the energy sector. Thousands of jobs will be created, making a huge difference in terms of attracting investment, and generating new business opportunities for both new and existing local firms.
“What’s more this decision benefits the whole of Norfolk and Suffolk through the related supply chains and not just the defined Enterprise Zone areas in both towns, which will see direct rate relief given to new and expanding businesses. This is going to transform Lowestoft and it sends a clear message – exciting opportunities in our area will grow and more jobs will be on offer.”
Barry Dennis, president of the Norfolk Chamber of Commerce, said:
“This is great news for the East Coast. Being ranked in the top five of all submissions shows what quality work the LEP is already achieving. There have been complaints in the past about lack of funding into our region. This is hopefully a sign that things are on the way up.”
Dr Peter Funnell, president of Suffolk Chamber of Commerce said:
“This is great news for local people and for local business in Lowestoft and Great Yarmouth. The Enterprise Zone and its potential to create new jobs will make a real difference to the economies across Suffolk and Norfolk. As the voice of business, the chambers are working hard to improve the skills of the workforce across our two counties and today’s news will be fundamental to that development.”
