Partner Article

Bristol Enterprise Zone opens for business

Bristol’s Temple Quarter Enterprise Zone has opened for business this morning, as an audience of over 200 businesses gathered at the launch event.

The 70-hectare site has seen a transformation, and is now ready to welcome businesses who can show substantial growth potential, offering a business rate discount of up to £60,000 per annum for 5 years.

Local Enterprise Partnership Chair Colin Skellett said: “This is a significant day for us all and marks the beginning of a process in which the Enterprise Zone and the five Enterprise Areas will act as a catalyst for economic development which will benefit the whole of the West of England.”

Investment of around £5m by the Homes and Communities Agency for the acquisition of Brunel’s Old Station, and the Pest Control Depot in nearby Cattle Market Road, is one of many projects in the pipeline for the Enterprise Zone.

Elsewhere, £12m from the Super-Connected Cities project will see the Zone at the centre of a high-speed digital network, and the development of the proposal for the ‘Creative Harbour’ Centre will create business incubators for start-ups, as well as collaboration and teaching space.

This builds on the successful SETsquared incubator hosted by University of Bristol, which accelerates high-tech, high-growth businesses, and will bring together teaching, enterprise and research to exploit the fusion between technology, creative and low carbon innovation and hence stimulate significant growth in the West of England.

Network Rail, together with its partners, is also developing a strategy to transform Bristol Temple Meads into a world-class rail gateway for the city by the end of the decade.

The proposals aims to expand the station area and increase train services to cater for the growing rail demand in Bristol, whilst providing a robust rail link, with excellent connectivity to London, the South West, Wales and the North.

Patrick Hallgate, route managing director for Network Rail said: “We warmly welcome the launch of the enterprise zone today.

“A robust rail infrastructure is vital to a thriving economy and the rail industry is poised to support Bristol with an integrated rail strategy.

“Bristol Temple Meads is located right at the heart of the enterprise zone and is among the busiest and fastest growing rail interchanges on the Western route, receiving more than 9m passengers on average every year.

“Redeveloping the station into a world-class rail gateway, with excellent rail links, will be significant to help position the new business district as an ideal location for investment, whilst boosting economic growth and catering for growing rail demand.”

A Revolving Infrastructure Fund of £50m is also in place provide essential infrastructure at key sites across the LEP area including the Enterprise Zone.

Bristol City Council Leader Barbara Janke said: “Bristol has a huge amount to offer potential businesses wishing to invest.

“We are one of the most business friendly, green cities in Europe with a track record of supporting innovative companies to thrive and grow.

“With its simplified planning and business rate discounts, the Enterprise Zone offers an exciting investment opportunity at the heart of the city and the South West region.”

This was posted in Bdaily's Members' News section by Tom Keighley .