August 27 2014 Latest news:
Duncan Brodie, business editor
Wednesday, January 29, 2014
New Anglia Local Enterprise Partnership (LEP) has expressed disappointment at missing out on a share of £100million-worth of Government funding to support Enterprise Zones.
The LEP had entered a bid for £5.1m towards the cost of creating some small and medium-sized industrial units on the Beacon Park site at Gorleston, part of the Great Yarmouth and Lowestoft Enterprise Zone, together with associated road infrastructure.
However, the project has failed to make the list of 12 shortlisted schemes announced by the Department for Communities and Local Government (DCLG), although bids by the neighbouring South East and Greater Cambridge & Greater Peterborough LEPs were successful.
A spokesperson for New Anglia LEP said that although the failure to secure part of the latest round of funding was a disappointment, it would continue with efforts to bring the Beacon Park scheme to fruition.
“Whilst we are naturally disappointed for the project not to have been initially shortlisted, feedback that we received was positive, but the competition for this Enterprise Zone funding was intense across the country.
“We will continue to work with DCLG and Great Yarmouth Borough Council to promote the scheme in the hope that further funding will be found to support this project,” the spokesperson added.
Enterprise Zones, a Government initiative overseen by the network of LEPs across the country, aim to promote economic growth through a range of support including business rates relief and a simplified planning process.
Among the bids shortlisted in the latest round of funding were a £5m project at the Alconbury Enterprise Zone in Cambridgeshire, involving groundworks for an office development expected to employ up to 600 people by 2016, and £11.21m-worth of roads to open up vacant land within the Harlow Enterprise Zone in Essex, for developments with potential to crate 2,300 jobs by 2025.
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.