BUSINESSES in the Milton Keynes, Luton, Bedfordshire and Buckinghamshire area have been invited to submit a proposal for an Enterprise Zone in the region.
The bid for a zone between 50 and 150 hectares will need to be submitted to government by the end of June.
Any bid will be submitted by South East Midlands Local Enterprise Partnership. Send ideas to firstname.lastname@example.org by the end of April.
Firms in Enterprise Zones will get a potential 100 per cent discount on rates as well as superfast broadband. This could be worth up to £275,000 over a five-year period for businesses that move into enterprise zones during the course of this Parliament.
All business rates growth within a zone for a period of at least 25 years will be retained and shared by the local authorities in the Local Enterprise Partnerships which are to support their economic priorities.
The South East Midlands Enterprise Partnership covers a wide area, from Luton right up to Northamptonshire.