Partner Article

Rates relief creates employment

A Teesside business park has welcomed its first tenant to qualify for business rates relief after it was declared an Enterprise Zone (EZ) and became eligible for the incentive.

Allied International UK LTD’s expansion into Kirkleatham Business Park, Redcar, leaves just one more 21,000 sq ft industrial unit and three offices with EZ status on the site.

The firm, part of the Allied International Group, will be effectively business rates free saving up to £275,000 over five years and has created eight jobs at its new facility.

Peter Duncan, managing director of Allied International, said: “The new premises will initially house carbon and stainless steel fittings with plans to expand to specialist duplex and alloy grades in 2014.

“Being on this site means we are ideally placed to tap-in to the buoyant offshore renewable and petrochemical industries on our doorstep and we are keen to expand further.”

The EZ site, near the Wilton Centre, is one of 12 created by the five Tees Valley local authorities working with Local Enterprise Partnership, Tees Valley Unlimited, in 2012.

All 12 benefit from streamlined planning regulations and a superfast broadband roll-out with each offering different incentives for Tees Valley’s high growth sectors.

In Redcar and Cleveland new petrochemical, renewable energy and advanced engineering firms to Kirkleatham Business Park qualify for business rates relief.

Meanwhile, traditional/renewable energy and advanced engineering firms could receive enhanced capital allowances at EZ sites in Wilton and South Bank Wharf.

In addition, Redcar and Cleveland Council officers can provide a range of support from help with everything from business plans to employment services.

Mark Hannon, the council’s cabinet member for economic development, said: “We’re extremely pleased to welcome Allied and we’re keen to find new businesses to reap the rewards of the Enterprise Zone.”

Neil Kenley, director of business investment at Tees Valley Unlimited wished the firm continued success with its growth and expansion plans.

He said: “In working to create the Tees Valley Enterprise Zone we were sure to accommodate business need and ambition and with 12 companies already on the Enterprise Zone we’re seeing those plans come to fruition.

Information about the Tees Valley EZ is available at www.teesvalleyunlimited.gov.uk

To find out about business development opportunities in Redcar & Cleveland call Damon Wright, commercial investment officer, on 01642 444383.

This was posted in Bdaily's Members' News section by Martin Walker .