1 NEW ANGLIA Local Enterprise Partnership Enterprise Zone

2 Enterprise Zones Announced by Chancellor George Osborne in 2011 budget 11 covering England’s biggest cities were pre-selected by the Government Open competition for 11 more ran over the summer LEPs invited to bid

3 Enterprise Zones Defined areas of development ready land with incentives: Business rates relief (up to £275,000 over five years for eligible firms) Simplified planning regime (saving businesses time and money) Support for the roll-out of superfast broadband (helping business remain competitive) LEP to retain business rates uplift from EZ

4 Learning past lessons Sectoral focus Minimise displacement Strategic fit Long term viability

5 Norfolk / Suffolk New Anglia LEP Counties of Norfolk and Suffolk Population 1.8million – set to grow to more than 2million LEP focus around energy and tourism plus business support

6 New Anglia’s Enterprise Zone Invited expressions of interest Five submissions from across Norfolk and Suffolk Independently assessed against Government criteria and LEP priorities Great Yarmouth and Lowestoft scored most highly Deliverable, realistic, distinctive and focused on a sector with real jobs potential GY-L proposal - developed by Norfolk and Suffolk Energy Alliance (four local authorities, EEEGR and chambers), coordinated by New Anglia

7 Wind Farm and Gas Field Outline

8 The New Anglia Enterprise Zone Covers hectares of development ready land in six sites across Great Yarmouth and Lowestoft The zone will be capable of accommodating 540,000 sq m of commercial floor space By 2015 – around 80 businesses and 1,380 jobs directly, another 690 indirectly By 2025 – businesses and 9,000 jobs directly, another 4,500 indirectly In addition to six core EZ locations two additional Local Development Order (LDO) only areas - just covered by the simplified planning regulations

9 The Enterprise Zone

10 New jobs, new businesses Focus on attracting new energy-related businesses EZ helps raise the attractiveness of Great Yarmouth and Lowestoft as investment locations Financial and planning incentives helpful tools Existing supply chain Skills for energy Proximity to market place

11 EZ good for existing businesses What’s in it for me? Expanding businesses could relocate to the zone Extended LDOs covering South Denes and Power Park Significant supply chain opportunities Increased profile of Great Yarmouth and Lowestoft Potential for increased infrastructure investment A once in a generation opportunity

12 Next steps Implementation plan agreed with Government Governance structure for EZ agreed Local Development Orders published and consultation underway Enterprise Zone coordinator appointed Marketing plans for the zone being developed Integration of EZ into other plans Interest from 60 businesses already – with construction of first premises already underway New Anglia EZ open – April 2012

13 Enterprise Zone Brochure

14 Enterprise Zones Any questions ?