Potential Enterprise Zones shortlisted

FOUR areas have been identified as possible sites for an Enterprise Zone to boost the economy in the Leeds City Region.

Business leaders will now examine the options in more detail before deciding where to locate the zone, which will offer companies business rate discounts, tax relief, superfast broadband and fast-track planning.

The shortlist includes the Aire Valley in Leeds, which has long been seen as the favourite option because plans have already been drawn up for the area to be developed with hundreds of homes and creating thousands of jobs. Bradford city centre, which has been scarred by stalled regeneration projects, is another option along with Selby and the Wakefield M62 corridor.

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The list was drawn up after all 11 councils in the city region were invited to put forward sites to become Enterprise Zones, which the Government is hoping will create thousands of private sector jobs to stimulate the economy.

A business-led task group will now analyse the options in more detail before the Local Enterprise Partnership Board makes a final decision in June. Officials want to make sure that the zone will not simply steal jobs from neighbouring areas.

The chairman of the LEP board, Neil McLean, said: “The board had an excellent, lively and constructive debate about the merits of the Enterprise Zone proposals.

“Rather than rush to judgement before the EZ comes into force next April, the board is making sure that the decision is the right one, based on sound information and private sector scrutiny. I’m happy that we’re on track to deliver an EZ that will produce real results from April 2012 and will benefit the whole of the Leeds City Region.”

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With councils told they can keep the business rates from any companies setting up in the zone for 25 years, the board also agreed that money should be reinvested across the city region. Another zone is being set up in the Sheffield City Region, where seven potential sites have been shortlisted.