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New Enterprise Zones in Buckinghamshire & Oxfordshire

10:54 21 December in Markets

New enterprise zones are set to be created in Buckinghamshire and Oxfordshire, the Chancellor George Osborne has confirmed.  The announcement was delivered in his Spending Review and Autumn Statement, which set out Her Majesty’s Government (HMG) spending plans over the next five years.

  • HMG is creating 26 new Enterprise Zones, including expanding 8 Zones on the current programme. These include 15 Zones in smaller towns and rural areas, spreading Enterprise Zone benefits to 108 sites across the country.
  • HMG will deliver its commitment to a £12 billion Local Growth Fund between 2015-16 and 2020-21. The indicative Local Growth Fund allocations that were made through Growth Deals and that Local Enterprise Partnerships will continue to receive core funding from government, matched by local areas.

 Enterprise zone status has been successfully secured for three strategic sites in Aylesbury Vale District, at Silverstone, Westcott Venture Park and the Arla/Woodlands.  The ‘Aylesbury Vale Enterprise Zone’ will facilitate the strengthening of infrastructure at the Silverstone, Westcott Venture Park and Arla/Woodlands sites; attract and develop new business investment; speed up the growth and development of local enterprise; and help address the business critical infrastructure needs of the sites. In addition to strengthening the commercial offer of these strategic employment locations, Enterprise Zone status will support the drive for inward investment projects from abroad.

 The ‘Didcot Growth Accelerator’ (no formal announcement made on the Oxfordshire LEP website at present) will, we understand, centre on the town of Didcot.  It will strengthen the local proposition for inward investment and growth and the near Enterprise Zone at Science Vale.

For more information about Enterprise Zones in the UK, please click here