Bigger share of jobs for Northern Powerhouse Enterprise Zones

Businesses based in Enterprise Zones in the Northern Powerhouse have created over 8,000 new jobs in the last four years, according to government figures.

The Enterprise Zones are central to the government’s plans to rebalance the economy, providing tax breaks and government support for new and expanding businesses across a range of key sectors.

Since 2012, they have created an average eight jobs every day and generated £1M worth of investment, with the final quarter of 2015 seeing the creation of more than 1,220 jobs – 18% more than in the previous quarter.

Northern Powerhouse Minister, Andrew Percy said: “From Siemens in East Yorkshire to GE on Tyneside, the Northern Powerhouse is attracting some of the world’s leading businesses to locate here and offer skilled jobs.

“Today’s figures make clear the real appetite to invest and do business in the North, with over 8,000 jobs over the last 4 years, thanks in no small part to the high quality local support on offer to new and growing companies.

“So I am especially pleased that Barclays has become our latest Northern Powerhouse Partner, and would urge all companies across the Northern Powerhouse to do all they can to promote our area as a place where businesses can thrive and grow.”

There are 14 Enterprise Zones across the Northern Powerhouse, which offer business rate discounts worth up to £275,000 per business over a five year period, generous tax relief worth millions to businesses making large investments in plant and machinery, and 100% retention of business growth to the Local Enterprise Partnership, allowing them to fund development.

These opportunities reflect the ongoing commitment from the government, to ensure the Northern Powerhouse successfully broadens the economy by boosting businesses and producing local job opportunities.

Barclays has recently signalled they would become the latest “Northern Powerhouse Partner”, with Mr Percy encouraging other companies to follow their lead.

 

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