Alex Easton MLA has today called for the NI Executive and in particular the Finance and Economy Ministers to look at creating an Enterprise Zone for North Down.
Speaking today Alex Easton MLA said:
“Enterprise Zones are designed to stimulate economic growth by offering tax incentives, simplified planning, business rate discounts and superfast broadband to attract new business ventures. The majority of incentives available within Enterprise Zones in GB are, with the exception of Enhanced Capital Allowances (ECAs), already devolved policy areas and the NI Executive is already taking steps to support businesses using these levers and I think North Down fits the bill”
“Enterprise Zones have established themselves as the driving force of local economies as they unlock key development sites, consolidate infrastructure, attract business and create jobs we need that for North Down.”
“All business rates growth generated by the Enterprise Zone is kept by the relevant local enterprise partnership and local authorities in the areas for 25 years to reinvest in local economic growth. This reflects the NI Executives commitment to long-term economic growth and enables Local Enterprise Partnerships to reinvest in site development and other local initiatives, such as workforce skills development.”
“Enterprise Zones are helping to attract more foreign investment into the country, and are bringing jobs and businesses across the United Kingdom. They are about delivering long-term, sustainable growth based on cutting-edge technology and enterprise. Businesses are clustering around centers of excellence in key sectors such as financial services, bio-sciences, digital and creative industries, advanced engineering, automotive, and renewable energy.”
“I want to see more jobs for North Down, with jobs for all, jobs for our young people and jobs for young couples starting off in life. I believe an Enterprise zone in North down could help with that, and I am determined to explore that idea.”