Council caution at enterprise zone bids for Bury and Haverhill
Proposals to create two enterprise zones in St Edmundsbury Borough have received a cautious welcome from council officers.
In bids to Government, New Anglia Local Enterprise Partnership (NALEP) has put the planned Suffolk Business Park at Moreton Hall forward for EZ status while Greater Cambridge Greater Peterborough (GCGP) LEP has proposed Haverhill Research Park. Businesses in EZ get benefits including rate rebates and fast track planning.
But a report to next week’s borough cabinet meeting says that while Haverhill fits in well with the GCGP bid, the council has told NALEP that it is ‘reluctant to accept any restriction of the types of businesses’ at Suffolk Business Park.
The council is also concerned that while GCGP shares business rates with councils in a way that means it would get more than if it was not an EZ, NALEP’s method would result in less, though it says the authority would not be worse off.