Incentives, grants and support are available to investors in the East of England Energy Zone.
A number of sites across Norfolk and Suffolk including port areas in Great Yarmouth and Lowestoft have Enterprise Zone status.
The Great Yarmouth and Lowestoft Enterprise Zone has been established to maximise opportunities for the energy sector and covers six sites across Great Yarmouth and Lowestoft.
Looking to help create 5,000 new jobs by 2021, the Space to Innovate Enterprise Zone comprises ten sites across Norfolk and Suffolk. This multi-site zone includes Egmere Business Zone – a 7.4 hectare site located to the south of port facilities at Wells-next-the-Sea, which has been established to support investment associated with the growing offshore renewables sector off the North Norfolk Coast and Scottow Enterprise Park – a 26 hectare ex-RAF site to the north of Norwich offering a private high voltage renewable electricity network.
Locating in an Enterprise Zone has the following benefits for businesses:
- a business rate discount of up to £275,000 over five years for eligible businesses on eligible sites
- provision of super-fast broadband
- simplified planning through Local Development Orders (LDOs)
LDOs simplify planning arrangements by allowing specific types of development in certain areas.
For more information about Enterprise Zone status, contact Eunice Edwards at the New Anglia Local Enterprise Partnership E: email@example.com M: 07808 647203.
Assisted Area Status
Great Yarmouth and Lowestoft have Assisted Area status. Assisted Areas are recognised in European state aid rules where financial support from Government is permitted to support eligible new investments in these areas.
Growing Business Fund
The New Anglia Local Enterprise Partnership (NALEP) 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/development or plant and machinery. Click here for more details.
Small Grant Scheme
The New Anglia Local Enterprise Partnership (NALEP) 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 offers support and assistance to businesses with the application process in many cases. Click here for more details.
Business Growth Support
As well as helping your business access grants and funding, the New Anglia Growth Hub supports businesses across Norfolk and Suffolk with growth and skills advice and brokerage services. Click here for more details.