What fantastic news. The government has just announced that Alconbury Airfield has been selected as an enterprise zone (EZ).
This is hugely important as it will enable business rates to be retained locally rather than being passed back to the treasury. These rates can be used for any strategic project that promotes growth anywhere in the LEP.
Businesses, in the EZ, will benefit from business rate relief of up to £275k over 5 years, simple planning process and super fast broadband. This is sure to attract new business.
It is expected that job creation could reach as many as 8000 new jobs.
The enterprise zone will help bring jobs and prosperity to Cambridgeshire and the funding will help us overcome some of the barriers to growth. This will show the rest of the world this county is a first class place to do business.
Cambridge is famous for research, Peterborough for manufacturing and now we have this EZ right in the middle. Perhaps we will be able to carry out more Development in the R & D mix.
This is an early success in our strategic aims to spread the brand of Cambridge across the county.
If I was starting another business Alconbury is where I would go.