HARTLEPOOL’S Queens Meadow and Port Estates enterprise zones have helped create around 1,000 jobs across the Tees Valley.
New figures from the Government show the Tees Valley Enterprise Zone has created around 1,000 jobs over its 11 sites. Nationwide, 24 Enterprise Zones have now created more than 15,500 jobs, and attracted more than 480 businesses and £2.1billion in private investment.
Stephen Catchpole, managing director at local enterprise partnership Tees Valley Unlimited, said: “Since April 2012 there have been 14 private sector investments on Tees Valley Enterprise Zone sites, generating around 1,000 jobs, with over £750m of private sector investment.
“The successes to date show how the Tees Valley Enterprise Zone is succeeding in delivering growth and development.
“Tees Valley Enterprise zones, with a combination of offers including reduced taxes, simpler planning rules and enhanced capital allowances, is a key piece of the jigsaw to improve the economy in the Tees Valley and it is heartening to see that 14 companies, so far, have benefited from the Enterprise Zone framework.”
The Government launched Enterprise Zones in April 2012 as part of a 25-year project to rebalance the economy, offering tax incentives, simplified planning and superfast broadband to companies.
Communities Secretary Eric Pickles said: “Enterprise Zones are now picking up the pace and really starting to deliver for the economy.
“We’re seeing activity across the country whether that’s established sites continuing to grow and expand or vacant derelict sites brought back to life.
“That’s because our long-term economic plan is giving businesses the confidence to invest. They know that Enterprise Zones work and are making the most of the top-class incentives and world-class infrastructure on offer.
“And that’s great news for local economies and communities because it’s these kinds of businesses that have the vision to grow, creating thousands of more jobs for hard-working people.”
Work started in December on a project to build more than 2,000 square metres of units at Queens Meadow Business Park, thanks to a £3m investment by the Homes and Communities Agency.
The development will also allow Cleveland Fire and Rescue to extend its existing headquarters on the site.