A new Grade A office development is currently under construction near Didcot which will play an instrumental role in the formation of the Science Vale Enterprise Zone. The project on Milton Park, which upon completion will be Oxfordshire’s only top class office space, is expected to create 500 new jobs in the area with hopes that the high standard will attract the interest of international investors.
Britain is open for business says George Osborne
Like many enterprise zones across the UK, the Milton Park and Harwell Oxford project will offer incentives for firms looking to establish themselves in the area. Business rate discounts are being offered by the government in a bid to attract international firms to the UK, in line with Chancellor George Osborne’s declaration that Britain is “open for business.”
Should these incentives work as planned, it is hoped that the Milton Park and Harwell Oxford Enterprise Zone will create up to 8,400 jobs by 2016.
Commercial director of Milton Park operator MEPC, Andrew Barlow, believes that the new Grade A office space will be a beneficial addition to the existing enterprise zone.
He says; “Whether taken by one company or occupied floor by floor, the customers for these buildings will become part of a highly successful business estate, which has grown to include 220 companies employing 6,500 staff.
“We are confident that with the buoyant Oxfordshire economy and our own track record at Milton Park, our substantial investment in these buildings will be rewarded with the creation of up to 500 new jobs at Milton Park.”
The Government is keen to show its support for the Science Vale Enterprise Zone and emphasise its involvement in the scheme, especially given the predicted job creation, in a week where unemployment rose for the first time in several quarters.
“Economic growth is this Government’s top priority and Enterprise Zones are the engine room of that strategy.
“MEPC is showing that is true in the Science Vale UK Enterprise Zone by starting construction of its largest office development at Milton Park for over 10 years, so it is a really important step,” Communities Secretary Eric Pickles said.
The construction and fitting-out of the office development is expected to cost around £15 million in total by completion.
Do you think Enterprise Zones are the best way to get the economy moving again, or should independent companies across the board be given more help with business rate discounts or lower rent incentives for landlords?
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