Scarborough could become one of the government’s flagship enterprise zones, under new proposals being put forward by Scarborough Council.
Regeneration chiefs yesterday entered into a bidding process, which will see Scarborough compete against other areas in the North Yorkshire region. The bid has been put to the York and North Yorkshire Local Enterprise Partnership, who will now select which bid will be recommended to accomplish Enterprise Zone status.
The Enterprise Zone initiative was announced by the government last month and it is hoped it will promote the regeneration of commercial property. The idea is simple; cut back on taxes and planning rules in certain areas, in order to promote the development of commercial property, which will in turn attract new business’ and create jobs.
Councils will then be allowed to keep any business rates raised in these zones.
However, the initiative has been criticised in some quarters, with one think tank suggesting it is not a new idea, but one which harks back to the 1980s and the Thatcher lead government.
Whether that is the case or not, should Scarborough be granted Enterprise Zone status, it will be seen as a great boost to the commercial property market in the area.
Scarborough Council’s head of Regeneration Pauline Elliott, believes that the bid put forward for the towns business park is strong and is hoping the whole of Scarborough will fully support the process.
Elliot said, ‘this bid represents a tremendous chance of safeguarding existing jobs and securing new quality jobs in Scarborough…It will also enable us to be in the strongest possible position to maximise inward investment …We believe we have a very robust bid and can demonstrate the enormous value an Enterprise Zone designation would bring to the borough and we would very much like the support of people and business leaders in Scarborough as we take this forward.’
Commercial property owners in the area will be keeping their fingers crossed, in the hope that Scarborough can present a successful bid.
