Enterprise M3 LEP Launches Multi-site Enterprise Zone
· Businesses to receive up to £275,000 in 100% business rate discounts over five years
· A possible £229.6 million in business rates generated by the Enterprise Zone over 25 years to be retained and invested locally
· Sites located in Basingstoke, Longcross nr. Chertsey, and Whitehill & Bordon
Enterprise M3 Local Enterprise Partnership (LEP) today announced the launch of its multi-site Enterprise Zone called EZ³. The LEP, in collaboration with five local authorities, were successful in their bid for the Enterprise Zone that links together three major regeneration sites - Longcross Park near Chertsey, Basing View, in Basingstoke and the third at Whitehill & Bordon’s Louisburg Barracks.
Businesses taking up occupancy in any of the EZ³ locations before 31 March 2022, will receive a 100% business rate discount for five years, up to the maximum state aid threshold of around £275,000. In addition, 100% of the business rates generated over 25 years by the Enterprise Zone, will be retained and invested locally to drive sustainable growth.
Nick Elphick, Enterprise M3 Board Member and Chair of the Enterprise Zone Steering Group said:
“Enterprise Zones are one of the pillars that underpin the government strategy for business growth and we are delighted to have been awarded the status across the three locations in our LEP area. EZ³ will strengthen our ability to attract more inward investment and accelerate high value business activities that will generate jobs and stimulate economic vibrancy.”
Nick added: “All three sites that make up EZ³ are linked by a unique access to our LEP area’s leading role in innovation, 5G technology and cyber security. So businesses that locate in any of the EZ³ sites will have the advantage of being at the forefront of world leading technologies.”
EZ³ is one of the most connected Enterprise Zones to UK’s key transport and commercial hubs – being the closest Enterprise Zone in the country to Heathrow Airport, and having excellent links to Gatwick, London City, as well as Southampton Port and Airport.
The successful bid for Enterprise Zone status across the three sites, was driven by Enterprise M3 LEP in close partnership with Basingstoke and Deane Borough Council, East Hampshire District Council, Runnymede Borough Council, Hampshire County Council, Surrey County Council, Crest Nicholson, Aviva Investors and Homes and Communities Agency.
Paul Turrell, Chief Executive, Runnymede Borough Council, said:
“We are delighted to have been successful in achieving an Enterprise Zone for Longcross Park, where planning consent already exists for 850,000sqft of high quality offices. We are now looking forward to working with Crest Nicholson and Aviva Investors as the landowners, Enterprise M3 LEP, and other partners to attract new businesses to the area. As 100% of the Business Rates growth will be retained locally for 25 years due to having this Enterprise Zone status, it provides a fantastic opportunity to reinvest the income into the local area and further improve our local economy.”
Cllr John Izett, the Cabinet member for Property and Development at Basingstoke and Deane Borough Council, said:
"Winning Enterprise Zone status from April will give Basing View and the borough as a whole a huge competitive advantage. Working with the LEP and other Enterprise Zone partners, we will be able to share in the growth in business rates for the next 25 years, guaranteed by government. It is estimated that we will be able to share in funding of £229m over that 25 year period. This will mean further regeneration and jobs at Basing View and, in time, additional investment in the borough as a whole. On top of this, businesses who either expand into new premises on Basing View or are newcomers to the Enterprise Zone will receive a rates discount for up to 5 years paid for by government. The future looks very positive."
Cllr Ferris Cowper, Leader of East Hampshire District Council, said: “The economic transformation of Whitehill and Bordon through the creation of high value, technology based employment is at the heart of the town’s regeneration.
“The Enterprise Zone will accelerate the opportunities for business to invest here and to be part the town’s success. The ability to support business and invest in the infrastructure is a priority for the council and its partners the Homes and Communities Agency and Whitehill & Bordon Regeneration Company. Working together on the Enterprise Zone will ensure that Whitehill and Bordon becomes a hub for new businesses.”
The three sites in EZ³ totalling 40 hectares, will create about 11,000 jobs, and attract more than 130 new businesses. This will help build the reputation of Enterprise M3’s area as one of UK’s most desirable place live and do business in.
About EZ³: https://www.enterprisem3.org.uk/EZ3
EZ³ (Pronounced as EZ Cubed) is a multi-site Enterprise Zone that links three sites - Longcross Park near Chertsey, Basing View, in Basingstoke and TechForest in Whitehill & Bordon’s Louisburg Barracks. The Enterprise Zone represents the collective interest of Enterprise M3, Basingstoke and Dean Borough Council, East Hampshire District Council and Runnymede Borough Council.
Eligible businesses taking up occupancy in any of the EZ³ locations before 31 March 2022, will receive a 100% business rate discount for five years up to the maximum state aid threshold of around £275,000. In addition, the three sites in EZ³ offer the unique advantages of the Enterprise M3 LEP area, which includes:
· access to highly skilled working population and academic institutions;
· access to commercial benefits of world-leading technologies in 5G development and cyber security;
· excellent connections to UK’s key transport and commercial hubs, including Heathrow and Gatwick airports, London City, Southampton Port, as well as M25, and M3 motorways.
EZ³ locations has a total area of about 40 hectares, with the potential to generate £229 million in revenues from business rates retention over a 25 year period. This amount will be retained and invested to drive growth in the local economy. Forecast economic impact to the local area also includes the creation of more than 10,000 jobs, with over 131 new businesses attracted.
About Basing View: http://www.basingview.co.uk/
Basing View is Basingstoke’s town central business district. Already the location for a wide variety of organisations from start-ups to global corporates, this 65-acre business district is undergoing major redevelopment and transformation, creating a modern, sustainable, commercial community situated within the town centre.
· A £50 million Network Rail regional operating and national training centre.
· The largest combined John Lewis at Home and Waitrose store in the country
· A new 60,535 sq ft speculative Grade A office development - targeted for completion in spring 2018.
· Plans for a new 153-bedroomed business class are in progress with Village Hotel Club.
· £2.3 million award winning landscape works to improve the landscaping, wayfinding and public realm.
Basing View also offers great connections to the rest of the UK and Europe:
· It’s located a short walk from the mainline rail station
· London is just 52 miles by road and easily accessed by the M3 motorway
· Frequent and fast train services to London – just 42 minutes by direct train into London Waterloo
· Heathrow airport is only 45 minutes away, serving 75.7 million passengers and over 194 destinations every year;
· The port of Southampton is 32 miles away and the one of the country’s most successful deep-water ports with facilities to handle virtually any type of cargo.
· Portsmouth International Port is Britain's best-connected ferry port with the most routes to France, Spain and the Channel Islands and takes just 52 minutes.
About Longcross Park - www.discoverlongcross.co.uk
Longcross Park is part of the 300 acre Longcross Garden Village. It is currently home to Longcross Studios where a string of Blockbuster movies are made. The first homes are currently being delivered as part of a major place-making exercise to provide up to 1700 homes, community facilities including a school and an 85 acre country park, together with Longcross Park, the closest EZ site in the country to Heathrow (15 mins drive time), which includes:
· Planning consent for 850,000sqft of “Grade A” offices, masterplanned around a linear park
· Planning consent for 385,000sqft of Data Centre uses
· Proposals for retail and leisure facilities, including cafes and a convenience store
· An on-site train station serving London Waterloo and Reading
· Access to the M25 and M3 in under 10 minutes drive time
· Bespoke build to suit opportunities for companies looking from 30,000sqft up to a whole campus
About Whitehill & Bordon
The Homes and Communities Agency/Whitehill and Bordon Regeneration Company owned site is uniquely positioned further South in the EM3 area, in between Portsmouth and Guildford. The advantage of its location, being just off the A3, is that it provides a link to the Solent cities whilst still being sufficiently close to key high tech manufacturing businesses located in Farnborough.
· A business environment “TechForest”, aimed at, but not exclusive to, high-tech and industrial businesses in a green setting as a gateway to the town
· Easily accessed by a new relief road for the town;
· A Business and Enterprise Centre providing flexible tenancies and support services for start ups and growing businesses (opening autumn 2017). Called “Base”, the centre provides high quality accommodation in a newly refurbished historical building;
· A Future Skills Centre offering training in construction and associated disciplines.
· Serviced plots with utilities, outline planning consent and further design information to provide speedy development opportunities for office and light industrial workspace. A range of plot sizes are available from 700sqm to 1,500sqm.
· Potential for ready built office/industrial space from late 2018
Partners offer a range of support to businesses including:
Enterprise Apprenticeships Scheme
Funding is available from East Hampshire District Council, working in partnership with Business East Hants, to subsidise wages and contribute towards transport and training for apprentices joining businesses in the East Hampshire district.
The Start-up Incentive Grants scheme offers £500 grants to new businesses in the East Hampshire District Council area.
Business East Hants
This business-led partnership serves businesses in East Hampshire by leading the development, improvement and promotion of economic growth, business engagement and business support. The partnership has a private sector Chair and a Board comprising local businesses, representatives from business organisations and support organisations.
Online business directory
The business directory is an online database of business contacts in the District. It is free to join or use.