Eunice Edwards, Enterprise Zone Manager, New Anglia LEP
If you were asked to name a regional economic “powerhouse”, Norfolk and Suffolk might not immediately spring to mind. Yet since 2010, economic growth of 9% in the area has outperformed many of the country’s better known “powerhouse” areas.
With the unique combination of a huge rural and urban economy of more than 60,000 businesses, world-renowned research facilities, a diverse leisure and tourism sector and rich cultural heritage, the area is a fantastic place to live, work and learn. For businesses looking for a new home, there’s an added draw to Norfolk and Suffolk – Enterprise Zones.
For new and expanding companies, Enterprise Zones are a great place to do business. As part of the Government’s Industrial Strategy, all areas across England that are designated as Enterprise Zones benefit from tax breaks, simplified planning processes and government support. Yet very few of the 48 zones unveiled between 2012 and 2017 have been as successful or achieved the scale of those in Norfolk and Suffolk. Our latest zone is the next step in bringing ambitious companies and new jobs to the area. We’ve called it Space to Innovate.
Space to Innovate has a unique and compelling offer. Unlike many other Enterprise Zones which occupy a single site near a business park or urban centre, our diverse zone is made up of 10 individual sites spanning urban and rural areas, each with their own identity, sector focus and prime location. Modern town-centre office accommodation on Princes Street in Ipswich contrasts with the open space of Scottow Enterprise Park at the former RAF Coltishall in North Norfolk.
Huge distribution and supply chain capacity is expanding all along the strategic A14 corridor. At Eastern Gateway in Sproughton, LDH La Doria are building a cutting edge automated warehousing and distribution facility.Leading developer Chancerygate will soon add a second phase of 19 units to Futura Park, just 15 minutes from the Port of Felixstowe. Meanwhile Gateway 14 in Stowmarket and Suffolk Park in Bury St Edmunds bring unprecedented opportunity for growth from the port through to the Midlands.
Meanwhile the global appeal of Space to Innovate is clear to see at Norwich Research Park, a world-renowned centre of excellence that’s home to 3,000 scientists and clinicians and 115 businesses working on food and health challenges of critical global importance. Elsewhere there is fascinating work being done by other truly inspirational organisations.
At Scottow Enterprise Park companies like Beattie Passive and Tufeco are developing state-of-the-art low-carbon construction technologies. Neighbours Swift Technology Group are designing and building a new generation of aerobatic training aircraft and Raptor Aerospace provide launch services, training and education to the UK space industry, all from a modern site with 60-years of proud aviation heritage.
To the west of the region at the innovation centre at Nar Ouse Business Park, companies Sidekick Digital and Websmart are helping companies grow through creative design, digital marketing, mobile apps and custom business software. Likewise, a revitalised Princes Street office district in Ipswich is home to software developers IJYI, transport telematics firm Seven Telematics and future-focused HR consultancy Buck in the newly refurbished Connexions building. Next door top 100 law firm Birketts LLP have just moved their 300 staff into a stunning new bespoke flagship office.
Our ambition is for innovative and future-focused businesses to come together in the zone to capitalise on the counties’ expertise in agri-tech, food and health, offshore energy, ICT and digital & creative sectors.
With Space to Innovate there’s opportunity for businesses of all sizes from all-inclusive office space for start-ups, move-on accommodation for expanding firms through to bespoke offices, warehouses and manufacturing units – all connected to strategic transport infrastructure. This puts London and Cambridge within easy reach as well as airports at Norwich, Cambridge, Stansted, Southend and Luton.
From Britain’s biggest container port at Felixstowe to those at Great Yarmouth and Lowestoft we have unrivalled access to 150 miles of the all-energy coastline including the booming offshore renewable sector.
Joining our growing community of innovative businesses on the Enterprise Zone could give you,
Up to £275,000 Business rates relief over 5 years
- Superfast broadband
- Simplified planning
- 100+ Like-minded companies.
In addition, a large portion of the business rates collected gets reinvested, ensuring the infrastructure, built environment and local economy continue to grow and evolve, bringing new opportunities and creating an ecosystem of like-minded peers. Numerous loan and grant support programmes are also available from New Anglia LEP to help local businesses expand and flourish.
It’s good news for the local economy too as Space to Innovate has so far delivered,
60 hectares of land now ready for development
£196m Public investment for Norfolk & Suffolk
£43m private investment secured for the local economy.
To find out more about locating your business on the Space to Innovate Enterprise Zone, or to discuss opportunities at our other energy-focused zone in Great Yarmouth and Lowestoft, contact Eunice Edwards, Enterprise Zone Manager at New Anglia LEP – Eunice.email@example.com
New Anglia Local Enterprise Partnership
Enterprise Zone benefits are limited to March 2021 so the window of opportunity is closing fast. If you’re an ambitious business looking to grow, find your space to innovate in Norfolk and Suffolk.