Decision details

The Cabinet will be asked to consider making recommendations to Council regarding the financial implications connected with progressing with the locations recently allocated with Enterprise Zone status.

It be noted that the Enterprise Zone (EZ) bids by the New Anglia Local Enterprise Partnership (which includes 14 hectares of land at Suffolk Business Park) and the Greater Cambridge Greater Peterborough Local Enterprise Partnership (which includes Haverhill Research Park) were successful.

It has been made clear to both LEPs that in the event that either of their applications were successful that full Council approval was still required.

RECOMMENDED TO COUNCIL that (23 February 2016):

(1)     the allocation of the Enterprise Zones be accepted for  implementation in April 2016 and delegated authority be given to Cabinet to negotiate and agree the details and precise terms of the Enterprise Zones (including entering into any legal agreements), subject to inclusion of a clause that requires  discussions and, if necessary, renegotiation of the terms around the possible changes that come with Business Rates Retention in 2020;

(2)     subject to (1) above, delegated authority be given to the Head of Planning and Growth in consultation with the s151 Officer to work with the Local Enterprise Partnerships and other bodies to promote the two Enterprise Zones;

(3)     delegated authority also be given to Cabinet to approve business cases for investment in on-site infrastructure to support the development of the EZs as and when these come forward and before any works can commence;  and 

(4)     Council approves the discretionary business rates discount for new businesses locating within the EZs as explained in paragraph 4.7 of Report No: CAB/SE/16/006.