Investment to boost jobs
Published on: 29 Jul 2013
INCOME from business rates collected from the Bristol and Bath Science Park in Emersons Green will be reinvested locally to boost growth and jobs.
It is part of a deal agreed between the four West of England local authorities and the Government that is estimated to mean an extra £500 million for the Bristol region.
South Gloucestershire Council will be allowed to keep the money from the national business rates from the science park and two other Enterprise Areas at Filton and Severnside.
Councillors from the three main parties at South Gloucestershire, which led on the City Deal, welcomed the investment, which will unlock millions of pounds.
But Labour’s Councillor Andy Perkins said it would be important to ensure that business areas outside the three Enterprise Zones – such as Staple Hill – did not miss out. He urged that some of the new money be used to address any possible negative impact of the City Deal
“We should not put all of our eggs into one basket and forget about our other areas, as they also need economic growth and opportunities for local people.” he said.
A legal agreement will be drawn up between the councils, the West of England Local Enterprise Partnership and the Cabinet Office before the incentive comes into operation in April 2014.
Decisions about where to invest the money to create new jobs and attract private sector investment in to the area will be made by the LEP and local authorities.