Rate relief of up to 100% are being offered to businesses to locate to two key employment sites in the West Lindsey District Council area of Lincolnshire.
For a time limited period only, the council is offering new or expanding businesses the opportunity to apply for up to 100% discretionary business rate relief.
Cllr Jeff Summers Chairman of the Policy and Resources Committee at the Council, welcomed the news. He said: “West Lindsey needs to position itself to compete effectively with other areas in order to secure business investment and support economic growth and job creation in the district.
“We recognise that business rates are a significant cost to businesses and that discounting is a tool the council can employ pro-actively, in order to stimulate investment in land and premises.”
Businesses are being invited to locate within two of West Lindsey’s strategic employment sites to benefit from this offer.
- Central Lincolnshire Food Enterprise Zone (Hemswell Cliff) 28 acres of new employment land to support the growth of the regional food and farming supply chain along the A15 corridor. The site is located with easy access to A15, M180, A1 and M1. Work with the Greater Lincolnshire Local Enterprise Partnership, the University of Lincoln and Bishop Burton Agricultural College is ongoing to establish connectivity and synergies with the other two Greater Lincolnshire FEZs in Holbeach (South Lincolnshire) and Grimsby (Europarc III).
- Somerby Park (Gainsborough) 20 acres of serviced employment land at the edge of town location with direct access to A631, linking to the A1/A15 and motorway network. Gainsborough is the focus of a major growth and investment programme, which will see 4,435 homes developed by 2036, together with commercial development and job creation. Somerby Park Enterprise Initiative is part of this programme, led by West Lindsey District Council
To be considered for rate relief under this scheme any applicant must either be:
- A new business starting up
- A business relocating to the area from outside of West Lindsey district
- An existing business with genuine growth proposals
Cllr Sheila Bibb, Chairman of the Council’s Prosperous Communities Committee, explained that the new scheme would not support developments conducive of displacement, where existing businesses would move to new buildings in order to benefit from the business rate relief, but without creating new jobs and leaving vacant premises behind.
She said: “This offer will help us create a thriving business environment, to support sustainable communities and quality employment. However, we would liketo promote genuine inward investment and business growth, creating new jobs (not displaced from elsewhere in the district) and investment in new or improved commercial floor space.”
To find out more about the fund contact the growth team on 01427 676 635 or email firstname.lastname@example.org.