The EZ³ is a multi-site, digitally-focused, enterprise zone in the Enterprise M3 LEP area, comprising three sites Basing View, Longcross and TechForest at Whitehill & Bordon. The three sites in EZ³ have a total area of about 40 hectares with new development and investment forecast to create more than 10,000 jobs, and attract over 130 new businesses to Enterprise M3 area. In addition, an estimated £115 million in revenues from business rates retention, generated over a 25 year period, will be retained and invested to drive growth in the local economy.
One of the key benefits for businesses moving to the Enterprise Zone is that they can receive up to 100% business rates relief for a period of five years. Businesses that move to the EZ³ Enterprise Zone before the 31st March 2022 will be eligible to receive business rates discounts to the value of £275,000 over a period of five years (equating to £55,000 per year). Without the expense of business rates, SMEs are able to invest their funds back into their own business - and even consider a larger office than would ordinarily be possible to help grow their company.
The Enterprise Zone sites can provide opportunities to start or grow your business, from co-working space to new commercial development plots.
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“Achieving an enterprise zone status is a significant step forward for business growth in our area. With proximity to Heathrow, London and other key transport hubs, EZ³ will strengthen our capacity to attract more businesses, create jobs and build on our sectoral strength in digital and sustainable technologies.”
Enterprise Zones form part of the Government's long-term economic plan to support the growth of SMEs by providing a host of benefits for businesses located within the designated 'zone'. The EZ³ area is one of 48 Enterprise Zones across the country.
Basingstoke and Deane Borough Council
East Hampshire District Council
Runnymede Borough Council
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