It may have been missed locally. There was some big news for Basingstoke as part of the autumn statement announced by the Chancellor today: It was confirmed that we have been successful in our bid through the EM3 LEP to have Basing View designated as an Enterprise Zone.
There will be those who worry about the impact on infrastructure and housing demand. We are close to having a 15 to 20 year plan in place which will set out where and when new homes can be built. This announcement is unlikely to change that.
In addition, we must remain a vibrant and economically viable town if we are to provide the jobs, incomes and services residents need,
Businesses basing themselves on Enterprise Zones can access a number of benefits:
•Up to 100% business rate discount worth up to £275,000 per business over a 5 year period
•Simplified local authority planning, for example, through Local Development Orders that grant automatic planning permission for certain development (such as new industrial buildings or changing how existing buildings are used) within specified areas
•Government support to ensure that superfast broadband is rolled out throughout the zone, and, if necessary, public funding
•100% enhanced capital allowances (tax relief) to businesses making large investments in plant and machinery on 8 Zones in Assisted Areas
The new Enterprise Zone will provide even more incentives for new businesses to come to Basing View and will make the council’s investment in the regeneration of the town centre business quarter go even further.
The Conservative Led Administration and your Conservative MPs have campaigned hard for this commitment.