Parts of County Durham could form an Investment Zone if proposals from Durham County Council are successful.
The authority has submitted a bid to make NETPark in Sedgefield and Aykley Heads in Durham City part of the Government scheme, which includes tax incentives on premises, National Insurance contributions relief, enhanced capital allowances on the purchasing of equipment as well as stamp duty relief.
Ministers will now consider the bid and a decision is expected later this year on which areas the Government would like to progress to the next stage of development. Successful schemes will need to demonstrate that Investment Zone status would drive development on undeveloped land.
