Nottinghamshire and Derbyshire are among 12 UK regions being given the chance to create a regional “Canary Wharf” to supercharge growth in the technology and low carbon sectors.
Linked to the region’s universities the “refocused” investment zone programme announced in the 2023 Budget hopes to create a dozen growth clusters, helped by £80 million of support and tax reliefs over five years – including enhanced capital allowance rates, structures and buildings allowance, and relief from stamp duty land tax, business rates and employer national insurance contributions.
The tax breaks will be similar to those already agreed for the new East Midlands Freeport which takes in three geographical areas in Leicestershire, Derbyshire and Nottinghamshire.
