Date Created: 29 May 2012
The Scottish Government has set up 14 Enterprise Areas (EAs) in order to stimulate manufacturing opportunities as well as investment and job creation.
The EAs have been set up in order to encourage private investment in specific sectors that could potentially generate early employment opportunities.
By focusing on growth sectors and the use of Scotland’s natural resources and knowledge, EAs can help develop competitive advantages in these sectors, while creating opportunities in supply chains locally and across Scotland.
There are four sector focused EAs in Scotland, comprising 14 sites, in the following locations:
Life Sciences Enterprise Area
Irvine (N Ayrshire); Forres (Moray); Inverness Campus (Highland); BioQuarter (Edinburgh); Biocampus (Midlothian).
Low Carbon / Renewables North Enterprise Area
Hatston (Orkney); Arnish (Western Isles); Nigg (Highland); Scrabster (Highland); Lyness (Orkney).
Low Carbon / Renewables East Enterprise Area
Dundee Port (Dundee); Port of Leith (Edinburgh).
General Manufacturing and Growth Sectors Enterprise Area
Creative Clyde (Glasgow); Prestwick International (South Ayrshire).
Discounted business rates
A key incentive at the majority of Enterprise Area sites is discounted business rates which will enable your business to invest and grow by reducing its overhead costs.
The Regulations enabling business rates discounts to be offered from 1 April 2012 are available on the UK Government Legislation website
Businesses can claim up to 100 percent rate relief under de minimis meaning savings worth up £275,000 per eligible business over the policy’s five year timeframe.
This is money which your business would otherwise pay as tax and which your business can invest to help create new jobs or boost growth.
The Regulations specify that business rates discounts will be available within specific geographical boundaries at each location.
See boundary map restrictions
Enhanced capital allowances
A limited number of sites will offer enhanced capital allowances (ECA) as an alternative to business rates discounts.
ECA is potentially more valuable to a business than discounted rates, where it is anticipated the company will undertake significant capital investment, as ECA enables a business to write off 100 percent of the investment costs in eligible plant and machinery against their taxable profits.
Areas where enhanced capital allowances will be available to investors
Tailored support
In addition to financial incentives, a tailored package of support will also available to potential investors including:
- Streamlined planning process
- High speed broadband connections
- International promotion and marketing with support from Scottish Development International
- Skills and training support via Skills Development Scotland to fully capitalise on the employment opportunities created
The EA sites will be in place for five years from April 2012-March 2017.
The EAs will also have a framework to ease faster and more efficient planning consents, which has been developed and agreed by COSLA and the relevant local authorities.
Enterprise Areas are open to any business meeting sector specific criteria to set up base in Scotland.
More information on Scotland's Enterprise Areas