Stoke-on-Trent and Staffordshire has been successful in its bid to create one of the country’s 18 new Enterprise
The benefits this brings to the area will be huge, including creating up to 9,000 new jobs and rejuvenating 140 hectares of largely brownfield land.
The Ceramic Valley enterprise zone is based on a simple idea, focusing on unlocking seven key sites along the strategic A500 to accelerate investment in a range of employment sectors, including:
- Developing a 'ceramics valley', making the most of the city’s unique selling point as the world capital of ceramics, home of the UK ceramics industry, and speeding up the move into technical ceramics
- Taking advantage of our unique location at the heart of an engineering and automotive triangle between car assembly plants in the West Midlands, Merseyside and Derby - creating a compelling supply chain offer
- Building on the momentum created through the city’s unique energy offer, and Government investment and private sector
interest in the proposed district heat network.
The delivery of the enterprise zone will be underpinned by a strong offer for business including:
- A prime location: the corridor of the A500 forms a distinctive D shape at the heart of the UK transport infrastructure network linking junctions 15 and 16 of the M6, giving excellent access to national and international markets
- Investments in infrastructure: the enterprise zone will benefit from investments in infrastructure and remediation to ensure that sites are shovel-ready for developers
- Building on existing sector strengths: Our ‘cluster’ approach will deliver significant advantages, ranging from supply chains through to shared training and development facilities
- A one-stop shop for business support: through the Stoke-on-Trent & Staffordshire Growth Hub, investors in the enterprise zone will have access to a range of targeted services including property solutions, access to finance initiatives, an independent skills brokerage, and real-time business intelligence.
Targeted sites in the enterprise zone will benefit from additional incentives to secure occupiers:
- A simplified planning system: this will allow targeted developments to happen and changes to take place without the need for planning permission
- Business rate relief: this will be given up to £55,000 per annum for a five-year period for businesses entering the enterprise zone
- Enhanced capital allowances: companies investing in plant and machinery can qualify for these. These allow businesses to write down the costs of certain assets against their taxable income. At present these give a 100 per cent first year allowance on qualifying assets until March 2020.
For further information:
Please direct your enquiries to the Make It Stoke-on-Trent & Staffordshire investment service:
0044 (0)300 111 8005