A number of incentives and grants are available to support investors in the East of England Energy Zone.
A number of sites in the Great Yarmouth and Lowestoft port areas, together with inland business parks such as South Lowestoft Industrial Area and Beacon Park in Great Yarmouth have Enterprise Zone status forming part of the Great Yarmouth and Lowestoft (New Anglia) Enterprise Zone.
Locating in an Enterprise Zone has the following benefits for businesses:
- Simplified planning through Local Development Orders (LDOs)
- Provision of super-fast broadband
LDOs simplify planning arrangements by allowing specific types of development in certain areas.
For more information about Enterprise Zone status, email Eunice Edwards email@example.com at the New Anglia Local Enterprise Partnership or call 07808 647203.
Assisted Area Status
Great Yarmouth and Lowestoft have Assisted Area status. Assisted Areas are recognised in European state aid rules as being less economically advantaged places that would benefit from additional support for development. As a result, financial support from Government is permitted to support eligible new investments in these areas.
Growing Business Fund
The New Anglia Local Enterprise Partnership Growing Business Fund provides grants of up to £500,000 for expanding businesses creating new jobs. Businesses in qualifying Assisted Areas may apply for a grant of up to 30% of the total cost of a capital investment project such as premises expansion or plant and machinery. Click here for more details.
Small Grant Scheme
The New Anglia Local Enterprise Partnership Small Grant Scheme offers grants of £1,000 to £25,000 for micro, small and medium sized businesses. Grants of up to 30% of the total cost of growth or expansion plans or projects to improve productivity or to introduce a new product or service are available for eligible Small to Medium Enterprises. Click here for more details.
The New Anglia Growth Hub is able to offer support and assistance with application process in many cases. Click here for more details.