Plans for new Enterprise Zone to support the UK’s space science industry confirmed.
The Midlands Engine is going interstellar thanks to plans for a new Enterprise Zone to support the UK’s space science industry, Local Government Minister Marcus Jones has confirmed.
The new Science and Innovation Enterprise Zone will cover 3 sites across Loughborough and Leicester, and aims to deliver 6,500 new jobs by building on the local area’s expertise in the sector.
Leicester is already home to the National Space Centre and the new Zone is now hoping to attract space-age businesses to the area with the offer of specialist research and development facilities to bring innovative ideas and products to market.
New and expanded businesses located there are set to benefit from business rate reliefs worth tens of thousands of pounds each year, an incentive set to pull in more investment into the region and boost the local economy.
The new Enterprise Zone will cover 160 hectares at Loughborough University Science and Enterprise Park, Charnwood Campus and Leicester Waterside. It forms a key part of the government’s efforts to fire up the Midlands Engine, and create an economy that works for everyone in all parts of the country.
Visiting Loughborough University Science and Enterprise Park, Local Government Minister Marcus Jones said:
“Leicester and Loughborough have a strong track record in the science and innovation industries, so we’re determined to support the area by attracting new businesses.
This new Enterprise Zone will help secure as many as 6,500 jobs for people right at the heart of the Midlands Engine and the site has real potential to rocket to the top of the space science field.
I’ve seen first hand the new zone’s ambitious plans to boost local growth, which forms an essential part of the government’s commitment to create an economy that works for everyone.”