Enterprise zone for Exeter and East Devon steps forward

PUBLISHED: 15:20 11 November 2016 | UPDATED: 15:20 11 November 2016


A ‘win-win’ scheme to boost new and growing businesses in Exeter and East Devon moved a step closer after council chiefs struck a deal with Government.

The cabinets of Devon County Council and East Devon District Council (EDDC) this week both signed a ‘memorandum of understanding’ to develop an enterprise zone.

Covering Skypark, Science Park, Cranbrook town centre and the Airport Business Park extension, it would be in place for 25 years and bring in an estimated £10million per year.

The zone would provide a range of incentives to attract and support businesses that are setting up or growing, including a five year business rate reduction funded by Government, which could be worth up to £275,000.

The zone also marks a major shift in that additional business rates generated from within the zone will be reinvested locally to further support economic growth.

Council bosses say this will help to ensure the future success of the zone alongside working with partners such as the Heart of the South West local enterprise partnership.

The councils also approved a business rates relief policy to avoid any potential negative impacts. This ensures that only those businesses that are genuinely expanding can relocate to the zone and safeguards against the potential for companies to be displaced from other parts of the county.

Existing businesses in Devon would need to provide evidence that there is no appropriate expansion space available at their current sites. Businesses already trading in the zone would receive discretionary rate relief if they are looking for larger premises to expand their turnover or workforce or both.

County councillor Andrew Leadbetter, cabinet member for economy and growth, said the enterprise zone will be useful for attracting inward investment.

EDDC leader Paul Diviani said the move is a ‘win-win’, adding: “It further enhances our attractiveness to businesses and investors whilst giving us local control to reinvest the funds raised to further promote growth right here.

“The memorandum of understanding and related policies then also provides us with the framework and reassurance that all partners will be better off as a result of the creation of the enterprise zone.”

Other News Stories

5 minutes ago

Take a look at our gallery of readers’ pictures from the latest snowfall this month.

Share yours with us at www.iwitness24.co.uk.

Read more

Emergency services are continuing to advice motorists to only drive if ‘absolutely necessary’ following snow overnight. Police and partner agencies to have been working to ensure main routes remain open and safe after snow fell across Devon and Cornwall yesterday and overnight.

Read more

Jim Reaney and Val Mellor tie for first place in a keenly contested match

Read more
Yesterday, 18:21

Some schools in East Devon have announced they will be closed on Monday as a result of the snow on Sunday.

Read more
Yesterday, 16:06

Nurses are needed by a hospital trust to minimise disruption caused by the weekend’s inclement weather.

Read more
Yesterday, 15:01

The district council imposes new regulations on what people can do in its public spaces

Read more
Yesterday, 14:33

A reduced field of runners took part in The Grizzly in Seaton as the wintry weather returned to East Devon.

Read more
Yesterday, 07:01

Classes designed for all types - from the posh to the playful pooch!

Read more
Yesterday, 07:00

For more than 100 years, children have waited in line to receive their Good Friday treat. We take a pictorial look back at the event in recent years.

Read more
Saturday, March 17, 2018

Horticultural society to host a talk by Jennie Knight, of JK Willows, Axminster

Read more

Local Weather



max temp: -1°C

min temp: -2°C

Most read

Useful Links

Photo Orders
Family notices
Reader Travel

Family Notices 24

Devon Freewheelers

Devon Freewheelers

Read Online

Read the Cranbrook Herald e-edition E-edition

Show Job Lists

Local business directory

Cranbrook's trusted business finder

Find planning applications