Enterprise Zones

What is an Enterprise Zone? And what does it mean for Cornwall?

In August 2011 the Cornwall and the Isles of Scilly’s Local Enterprise Partnership (LEP) was awarded Enterprise Zone (EZ) status for Aerohub at Newquay Cornwall Airport (NCA) via a competitive bid process. Excitingly we are one of only two EZs in the West Country and one of only 23 nationally.

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Aerohub, will be a catalyst for new jobs private sector investment within the aerospace and other high growth sectors by creating a new business hub, underpinned by the development of an aerospace learning centre/academy which will develop, enhance and adapt local skills.

Aerohub is not about  displacing economic activity, or even local need, but of creating new opportunity and jobs around a key regional asset, the airport. NCA has seen significant investment from the Convergence programme (in partnership with Cornwall Council) to ensure both the connectivity it provides is maintained but also to deliver significant new high quality jobs. The EZ really gives us the best chance to deliver those jobs and attract new investment. 

The EZ benefits area extends to: 55 Ha (135acres) in three development zones, which could accommodate over 2,000,000ft of hangar space, offices and manufacturing and 5000 jobs.

Is around simplified planning and business rates discounts.

We have created a planning free environment by the NQY Local Development Order  (LDO) which allows development to be undertaken without planning permission. A second LDO is planned for the Business Park.

The tax and Business rates discounts include:  5 year 100% rates reductions for every business within that zone to April 2015. The government will then refund the discounts given and also we will retain all business rates growth within the zone for a period of at least 25 years this will be used, to support the LEP’s economic priorities.

The aerospace sector in the South West is a major economic driver we can support that at Aerohub. The EZ is massive opportunity for Cornwall when you look at this global aerospace picture.  

Aerohub is unique site for aerospace and related activity and offers a total inward investment package to business.  The Convergence ERDF programme has and will be critical to the success of the EZ and together with projects such as Superfast Broadband, significantly enhances the EZ offer.  The significant scale of the investment-friendly EZ will enable it to accommodate major investment and we can rapidly respond and give bespoke solutions to the demands of businesses.

  • Physical Environment:  Unrivalled for aviation/ aerospace activity; long runway (2700m), capacity, free airspace, access to maritime environment.
  • Superfast Broadband:  the ground breaking ERDF funded project is up and running.
  • Convergence ERDF Programme: will be key to match fund infrastructure and buildings, support job creation, support business growth and skills development.

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