EZ³ – The London & South Innovation Valley went live on 1 April 2017 and within a year we have already approved funding of £13m for the delivery of three developments within the Enterprise Zone (EZ) which we forecast will bring 13,300 sqm, 1,300 new jobs and the initial £4.5m investment from the £13m will create £50m business rate income to invest further in the EZ.
A significant range of activity has commenced to accelerate the achievement the EZ³ ambitious targets over its 25 year life time. This will ultimately generate a significant uplift in business rates across the 25 years totalling over £200m. These business rates will be retained by Enterprise M3 and our local authority partners for reinvestment into projects in the Enterprise Zone.
The multi-site, digitally-focused Enterprise Zone covers 49 hectares over three sites located at Basing View, Longcross and Whitehill & Bordon. EZ³ offers two unique opportunities for occupiers.
· Early access to 5G innovation – the next generation of digital communications technology; and
· International connectivity – EZ³ is the closest Enterprise Zone to London Heathrow.
Other benefits for businesses moving to EZ³ include 100% business rates discount, worth up to £275,000 over five years; high quality business support; access to highly skilled workforce; R&D collaboration opportunities.
Our £13m investment will deliver a 153 room hotel, a discovery centre providing incubator space, enhanced power supply and improved public realm. Investing this money early in the life of the Enterprise Zone is an example of the Enterprise M3 Way, injecting more pace and energy into the programme to enable earlier business rate growth and greater impact.
We have zealously promoted the sites to investors and occupiers. Following the EZ³ launch in July 2017, we created a high calibre promotional film to highlight the locations and digital advantages offered by EZ³. The film was funded via our successful bid to DCLG. We premiered the film at MIPIM UK, the premier property exhibition and conference, in October 2017 to further raise the profile of the Enterprise Zone sites.
Next year we will see further investments into the Enterprise Zone and we look forward to businesses moving into the sites at EZ3.
Want your business to be in the perfect location connect with us @Ez3EnterpriseM3 or visit www.ez3.co.uk