The Chancellor’s Spending Review has delivered a huge boost for business as Norwich Research Park is named as an Enterprise Zone site.
Currently home to over 12,000 people and more than 40 businesses, the development will allow the thriving science and technology Park to further develop by enabling businesses to tap into a wide range of benefits, including business rate discounts and simplified planning processes.
Focusing on supporting more spin out businesses in the food, health, IT and plant science sectors, Norwich Research Park is one of ten innovative locations named in the Autumn Statement this week which will make up the new Norfolk and Suffolk Enterprise Zone.
Dr Sally Ann Forsyth, chief executive officer, Norwich Research Park said: “This is tremendous news for the region. Enterprise Zones are internationally recognised as areas which support businesses by offering tangible assistance such improved access to superfast broadband and reduced business rates.
“Enterprise Zone status will enable us to build upon our existing foundations and further strengthen our position as a leading destination for innovative businesses.”
John Fuller, Leader of South Norfolk Council, the district authority in which the 25-hectare Enterprise Zone site is located.
“The work done at Norwich Research Park leads the world in addressing the challenges facing humanity in food, health, energy, the environment and genetics.The Enterprise Zone status will help turn this basic research into products that people at home and abroad want to buy to generate jobs and wealth for Norwich & Norfolk,” he said.
The combined bid for one of the Government’s prestigious new Enterprise Zone sites for Norfolk and Suffolk was co-ordinated by the New Anglia Local Enterprise Partnership and local authority partners.
Its chairman, Mark Pendlington, said: “This is fantastic news for companies locally, nationally and internationally looking to capitalise on the expertise of the East – from world-class food and health research, our thriving all-energy sector and innovation in ICT and digital – this zone will be a magnet for inward investment, help create thousands of jobs and drive our productivity.”
Norwich Research Partners LLP was formed in 2012 and has outline planning permission for over 160,000 sq m of research, health and ancillary buildings. A partnership between theUniversity of East Anglia, theNorfolk and Norwich University Hospital and four independent world-renowned research institutes – the John Innes Centre,Institute of Food Research,The Genome Analysis Centre andThe Sainsbury Laboratorylinked to theGatsby Charitable Foundation. The John Innes Foundation and the Biotechnology and Biological Sciences Research Council are also partners.