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£3 m funding boost for enterprise zone

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Beacon Park, part of the Great Yarmouth & Lowestoft (New Anglia) Enterprise Zone, is to receive £3 million of government funding to open the site for development. It will lever in further investment to a total of £7.3m and see seven new industrial and office buildings.

It is hope the funding will attract additional private investment over the next two years resulting in further construction targeted at growing energy-sector companies. Beacon Park Enterprise Zone site in Gorleston has six businesses up and running, including NOV Hydra-Rig, Virgin Atlantic Flightstore, ElectroTech, Diesel Power (East Anglia) , Nexus engineering training centre and MacLean Electrical.

“This announcement further bolsters this region’s reputation as an unrivalled energy centre,” said Mark Pendlington, chairman of the New Anglia Local Enterprise Partnership. “In the two years since the Enterprise Zone has been created nine companies have opened up businesses there and over 450 jobs have been created. “The additional cash can only increase those figures, bring further prosperity to the area and once again prove that Norfolk and Suffolk can match the demand needed in the energy sector.”

Cllr Trevor Wainwright, leader of Great Yarmouth Borough Council -the park's owner -  said: “We are delighted with this extra funding to further expand Beacon Park, which is a huge vote of confidence in the local economy and in the borough council’s ability to deliver.

“We have already seen a number of companies relocating to Beacon Park, both from the local area and further afield, creating both new jobs and a vibrant area of economic activity. Investment in the Park from both the public and private sector continues to produce strong interest from potential occupants.”

George Nobbs, Leader of Norfolk County Council said: “It is my hope that this announcement marks a new dawn of prosperity and investment in Great Yarmouth, a town which has always done its best to meet every new challenge. In terms of the energy sector, what is good for Great Yarmouth is good for the whole of East Anglia.”

The Enterprise Zone, which is part of the East of England Energy Zone, is based across 6 sites in Lowestoft and Great Yarmouth. It provides a range of benefits for energy-related businesses to help them grow. These include a discount on business rates of up to £275,000, simplified planning and super-fast broadband

Last Updated ( Wednesday, 02 July 2014 08:20 )