Dudley launches Investment Zone Incentive Scheme

Posted on 1 July, 2014 by Cliff Goodwin

A West Midlands council has launched a campaign to attract businesses to one of its prestige developments by offering a series of business rates incentives.

Dudley-launches-Investment-Zone-Incentive-Scheme

It’s hoped that as many as 1,600 jobs could be created at The Waterfront in Brierley by encouraging businesses to take-up space in the 200,000sq ft of office space at the Dudley Business Investment Zone. The town’s council says some new ventures could qualify for as much as two years without paying business rates.

“The new zone is now up and running and is part of our clear vision for bringing more business, investment and jobs into the area,” said Judy Foster, a cabinet member for regeneration on Dudley Council. “These are still very early days for the investment zone, but we are really encouraged by the number of enquiries we have had.”

The authority approved the Dudley Business Investment Zone scheme in February this year with the cost of the business rates incentive being shared equally by the local authority and participating property owners in the area.

Existing occupiers already within the Waterfront zone who intend to expand their businesses, may also be eligible for the discount but only on any additional floor space built or occupied since the zone was established.

The council is hoping re-occupancy of the existing space at The Waterfront would allow “meaningful discussions” with developers about the additional one-million sq ft already earmarked for the site in the Black Country Core Strategy.

The motivation for the riverside investment area was prompted by the town’s unsuccessful attempt to win a second enterprise zone. Following the 1980s closure of British Steel’s Round Oak iron and steel works the brownfield site was granted enterprise status with the Merry Hill shopping centre eventually becoming its biggest development.

During the financial crisis the town and county councils applied to have the former industrial land at Brierley designated an enterprise zone under the Government’s latest initiative but The Waterfront site was rejected.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

Interest Rates Impact on Commercial Property

Commercial Property Investment Outlook for 2023

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants