Assisted Area status

Waveney MP Peter Aldous has today welcomed a Government announcement to include Lowestoft and Great Yarmouth in the UK’s 2014-20 Assisted Areas Map.
 
Assisted Area Status makes local businesses eligible to bid for additional funding and tax breaks to create jobs and invest in new premises or machinery. This support is to promote the regeneration of the two coastal towns by encouraging businesses in these communities to grow, innovate and thrive.
Programmes in England that offer regional aid funding include the Regional Growth Fund (RGF) and the Advanced Manufacturing Supply Chain Initiative (AMSCI).
 
Inclusion in the Map will build on the existing incentives of the Enterprise Zones, Local Development Orders (outside of the Enterprise Zones) and Lowestoft’s designation, along with Great Yarmouth, as a Centre of Offshore Renewable Engineering (CORE). Up to now 4 out of the 6 CORE designated areas have Assisted Area Status but now that they all do, they are better placed to realise their full potential and the United Kingdom Trade and Investment (UKTI) will be able to promote them as a single entity globally.
 
Peter Aldous has been working alongside Brandon Lewis, MP for Great Yarmouth, Local Enterprise Partnerships and local authorities throughout the consultation process to press the Government for this economic opportunity to be given to the two towns.
 
Mr Aldous said:
“I am delighted that parts of Lowestoft will appear on the Assisted Area Status map – it is fantastic news for local businesses in Lowestoft, which as a port is very well placed to take advantage of the extra business investment in the oil and gas and offshore wind sectors.”
 
Mr Lewis said:
“I am absolutely delighted that Great Yarmouth businesses will soon have access to additional financial support, putting us on a par with UK competitors elsewhere in the country, and giving us the edge over many European firms.  This announcement will increase the confidence and belief in the area of businesses already established in the area and potential future investors.  I have, alongside Peter Aldous, been lobbying Government ministers for many months to make the announcement a reality and will continue to look for further ways to give Great Yarmouth families the best possible deal.”
 
The Assisted Areas map is expected to take effect on 1st July 2014.
 

The Renaissance of East Anglian Fisheries

Construction (Retention Deposit Schemes) Bill

Construction (Retention Deposit Schemes) Bill

Surgeries

Peter holds regular surgeries at various locations in the constituency. Please call 01502 586568 to make an appointment.

Next Surgeries - 2018: 
Lowestoft, Wednesday 8th August

 

 

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