Enterprise Zones (EZs) are part of the government’s wider industrial strategy to support businesses and enable local economic growth.
All business rates growth generated by an EZ is kept by relevant local enterprise partnership and local authorities for 25 years. This is re-invested in the local economy.
Find out more on gov.uk about:
Black Country Enterprise Zone
The Black Country EZ sites are a key project in the Black Country Strategic Economic Plan. This sets out the growth strategy and economic objectives to deliver the Black Country’s vision for economic growth and transformational change.
The zone comprises:
- Wolverhampton and Walsall Enterprise Zone (WWEZ) commenced 1 April 2013
- Dudley (DY5) Enterprise Zone commenced 1 April 2017
The governance principles and framework for managing the EZ programme, funding, and monitoring are in line with the Black Country Local Enterprise Partnership (LEP) Assurance Framework. This requires local authorities to borrow for schemes within their geographical area.
If you’re interested in moving your businesses into the Black Country Enterprise Zone, contact the Black Country LEP.
Find out more about:
Wolverhampton and Walsall Enterprise Zone
The zone covers two prime locations:
- Wolverhampton North
- Darlaston (Walsall) - this is a cluster of sites either side of the M6, providing 40 hectares of (net) developable land
Some of the sites are already operational. Further sites are ready for immediate development, and others offer longer-term development opportunities. The sites allocated for employment use in the Walsall site allocation document are of strategic importance to Walsall’s employment land supply. They are capable of delivering significant investment, floorspace and jobs.
Darlaston (Walsall) Enterprise Zone
The sites offer development opportunities for:
- the production of components for the advanced engineering and manufacturing sectors
- logistics and distribution
- construction, transport and environmental technology sectors
Before the EZ financial incentives expired, savings were available as business rates discounts and Enhanced Capital Allowances (ECA) on specific sites in Darlaston. Up to £125m of ECA was available to buy plant and machinery. Support continues to be available as business rate retention/investment model. All sites have superfast broadband. This ensures the very best digital connectivity and improved highways infrastructure.
Black Country Enterprise Zone: Darlaston Zone offers:
- clear financial benefits* – business rates retention/investment model
- a straightforward planning process – pre-application support available to support the planning process
- business-ready infrastructure – superfast broadband, easy access to transport links and local labour pool
- co-location with your customers – the easiest way to grow your business, increase your sales and reduce your distribution costs
* To the extent that the provision of financial benefits constitute a subsidy as defined by the United Kingdom (UK) – European Union (EU) Trade and Cooperation Agreement (TCA) the Walsall Enterprise Zone scheme is designed with the objective of complying with the TCA and the UK Government’s guidance on the UK’s international obligations on subsidy control. In all cases prior to the providing financial benefits an assessment will be conducted to ensure where a subsidy is provided this is in accordance with the principles set out at Article 366 of the TCA
Contact us to find out more
For further details of development and investment opportunities within the Darlaston sites, contact email@example.com