A REGENERATION scheme which is expected to boost jobs and commerce at Markham Vale business site has moved a step closer towards being approved.
NE Derbyshire District Council, Chesterfield Borough Council and Bolsover District Council submitted a bid to the Government for part of the site off Junction 29A, of the M1 motorway, near Bolsover, to get Enterprise Zone status.
And the Government has now approved the bid in principle and if it gets the final go-ahead later this year it is expected to attract new companies with business rate relief and other benefits.
Chairman James Newton, of the Local Enterprise Partnership which applied for the Enterprise Zone, said: “Enterprise Zone status represents a significant long-term investment and we’re delighted to receive Government backing for our proposal.”
The region’s local authorities submitted their bid as part of the Sheffield City Region Local Enterprise Partnership’s application for a zone focusing on engineering and technology covering Markham Vale’s business site and areas of South Yorkshire.
Enterprise Zone status will see the earmarked Modern Manufacturing and Technology Growth Area benefit from a range of measures including business rate relief, the relaxation of planning rules and super-fast broadband to trigger a revival.
Enterprise Zones can mean 100 per cent business rate discounts and there are possible plans for the Government to cover and pay these rate amounts back to the partnership’s local authorities for them to reinvest.
Mr Newman added: “The MMTGA will be a key element in delivering the LEP’s overall vision by harnessing the growth potential of key sectors and helping to build a more balanced, resilient and diverse economy.”
The Markham Vale business site was originally developed at the former Markham Colliery three years ago by Derbyshire County Council and other local authorities from the region as part of regeneration plans.