North Kent Enterprise Zone goes live
The North Kent Enterprise Zone (NKEZ) is in operation meaning there are financial incentives for businesses deciding to locate in the area.
One of 12 new enterprise zones selected by government, the designation, which includes Ebbsfleet Garden City and went live on 1 April, aims at stimulating business growth and the creation of new jobs.
Annual business rates discounts of up to £55,000 will be in place for five years for companies that locate within the area by 31 March 2022.
The NKEZ comprises the Garden City and two other schemes, Kent Medical Campus and Rochester Airport Technology Park in Medway, and will start taking in business occupiers in 2018.
It is estimated the initiative will generate around 9,000 jobs over the next eight to 10 years.
“This is an important milestone in the development of the North Kent Enterprise Zone,” said Bernard Spring, chairman of the NKEZ strategic board.
“We are particularly hoping to attract companies in medical technologies, advanced manufacturing, engineering and digital creative sectors.”