August 30 2014 Latest news:
Shaun Lowthorpe, Business editor
Wednesday, May 28, 2014
Great Yarmouth and Lowestoft’s enterprise zone was today boosted with news that Beacon Park has secured an extra £3m of government cash to help attract new energy firms to the area.
The additional investment will help Great Yarmouth Borough Council, owner and developer of the premier business park, complete important infrastructure to open up the whole site for development and will lever in further investment to a total of £7.3m which will see seven new industrial and office buildings constructed.
Trevor Wainwright, leader of Great Yarmouth Borough Council said: “We are delighted with this extra funding to further expand Beacon Park, which is a huge vote of confidence in the local economy and in the Borough Council’s ability to deliver.
“We have already seen a number of companies relocating to Beacon Park, both from the local area and further afield, creating both new jobs and a vibrant area of economic activity. Investment in the Park from both the public and private sector continues to produce strong interest from potential occupants.”
The aim is that the funding will also attract additional private investment over the next two years resulting in further construction, targeted at growing energy-sector companies.
Set up and supported by New Anglia local enterprise partnership, Beacon Park Enterprise Zone site, Gorleston, already has six businesses up and running, including global offshore manufacturing firm NOV Hydra-Rig, Virgin Atlantic Flightstore, ElectroTech, Diesel Power (East Anglia) Ltd, Nexus engineering training centre and MacLean Electrical.
The Enterprise Zone, which is part of the East of England Energy Zone, is based across six sites in Lowestoft and Great Yarmouth. It provides a range of benefits for energy-related businesses to help them grow.
A Norwich-based business which started as a “man with a van” operation is eyeing further expansion after seeing its predicted turnover increase from £6,000 to £340,000 within five years.