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Home > Business > Economic Development > Enterprise Zones

Enterprise Zones

Space to Innovate Enterprise Zones

The Chancellor announced in 2015 that New Anglia LEP and its local authority partners had secured one of the Government's prestigious new Enterprise Zones for Norfolk and Suffolk. Under the theme Space to Innovate, the new, multi-site zone will help create 18,500 jobs over its 25 year lifetime, including 5,000 by 2021.  More information about the space to Innovate brand can be found on NALEP website.

New Anglia website for Enterprise Zones

2 of the 10 sites are in Babergh and Mid Suffolk are;

Stowmarket Enterprise Park, Mill Lane, Stowmarket (needs link to another tile)

Sproughton Enterprise Park, Sproughton, A14, Junction 54 (link to another tile)

 

Benefits to Business – Location on an Enterprise Zone site in Babergh Mid Suffolk Districts 

  • Discretionary Business Rates Relief (currently in draft awaiting Member approval) – available to businesses locating to an EZ site on or before 31 March 2021, subject to State Aid thresholds
  • Additional business marketing and promotion support via Councils, New Anglia LEP and other agencies
  • Potential to access other funding/preferential finance aimed at employment growth
  • Streamlined planning e.g. Local Development Orders, Outline Planning Permissions
  • Potential to access other areas of expertise via Districts/New Anglia LEP e.g. education and health sectors, ICT operators, local Chambers of Commerce and other business advice agencies
  • Stowmarket EZ site – potential cluster of food related business operators

 Additional benefits

  • Fully serviced employment land located close to main junctions (50 and 54) on A14,
  • Close proximity to rail network including London mainline stations,
  • high capacity, high speed broadband connectivity
  • modern office accommodation

Stowmarket Enterprise Park, Suffolk -  a 17 hectare Enterprise Zone which includes  the existing Food Enterprise Zone, located on the edge of town  The main theme of the park will be agri-tech, food and health sectors as well as digital and media based business.

Stowmarket Food Enterprise Map 

Sproughton Enterprise Park, Suffolk - a 14 hectare site between the A14 and Sproughton Road.  It provides excellent road links to the M25, Felixstowe Port, Cambridge and the Midlands.

Sproughton Enterprise Park Map 

Businesses relocating to either site could receive business rates discount of up to £275,000 over five years, simplified planning and access to Superfast broadband.

Food and Drink Processing business could also qualify for grants between £60,000 up to £1 million if they establish themselves in the Food Enterprise Zone in Stowmarket.