THE private sector has offered a cautious welcome to the proposed Tees Valley enterprise zone, which aims to create 30,000 jobs over the next 25 years.
The region's local enterprise partnership (LEP) has worked closely with local authority leaders to draw up the plan which could see eight separate sites given special regeneration status.
Full details of the scheme will be finalised at a meeting of the LEP's Leadership board on Wednesday before a two week public consultation is held ahead of the June 30 deadline.
Andrew Sugden, policy director for the North East Chamber of Commerce (NECC), said feedback from members had been largely positive, and he was determined to ensure the voice of the private sector was heard.
"NECC would have hoped to have been given the opportunity to engage directly in the process which drew up the enterprise zones, but we accept that Tees Valley LEP had a very difficult job, and that it was commercially sensitive," said Mr Sugden. "More than 1,000 businesses in the Tees Valley are members of the Chamber so we have a lot to add to this debate.
"Once the full details of the proposals are published we can offer the insight and sector experience of our members to help finalise the proposals which are put to Government at the end of this month.
"I would also imagine that the LEP will want to secure our full backing. The Government cannot be expected to understand all of the ins and outs of the Tees Valley economy and it is likely to look for reassurance from organisations, including NECC, that the sites under consideration are the right ones to deliver maximum economic benefit."
What is an enterprise zone?
*An area of between 50 hectares and 150 hectares.
*Receives discounted business rate over a five year period.
*Simplified planning procedures.
*Government support to deliver superfast broadband.
*All business rates growth within the zone for a period of at least 25 years will be retained by the local area to support the partnerships economic priorities and ensure that enterprise zone growth is reinvested locally.
*Tees Valley LEP is also trying to secure enhanced capital allowances to support major investment in plant and machinery.
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