Published on Friday 07 October 2022
Update: BCP Council has now officially submitted an Expression of Interest for an Investment Zone. We will provide further information as the process continues.
Original story:
BCP Council is working to designate two areas of the region to become a UK Government Investment Zone, as the authority aims enhance and unlock its coastline of opportunity.
Government has in the last few days launched its plans for Investment Zones in the UK and opened the initiative to applications from Local Authorities in England.
The aim of Investment Zones is to accelerate growth and unlock housing across the country. Areas which become Investment Zone sites could benefit from tax incentives, rates relief, and wider support for the local economy. Indications are that if chosen, Councils would work with Government to decide which incentives would work best for their zones.
Cllr Philip Broadhead, Deputy Leader and Portfolio Holder for Development, Growth and Regeneration, said:
"We’ve seen the government proposals and it’s clear that zones will be centred around specific projects or sites. We have therefore identified sites within the BCP area that could really benefit from the initiative. This includes Bournemouth Airport and the area around the Port of Poole, including the Holes Bay regeneration site and adjacent development and commercial land. We'd also seek to secure investment for key sites such as Sunseeker.
"We believe these areas are an attractive option to include in our submission and investment in them will help to drive growth in the wider economy. Should we be chosen, the business rate and tax incentives will also be a huge step forward, securing the future viability of businesses across our region. That’s why we are working hard to pull together a submission and will submit our proposal ahead of the government’s deadline next week.
"We are renowned for our beaches, parks, gardens, nature reserves and heathland and our submission will aim to maintain our existing protections for our delicate natural environment. I believe our nature credentials are top notch and we wouldn’t budge on those, and the same goes for planning. We’re not interested in loosening planning powers – and indeed in many areas we are fostering more control with work on guidelines such as design codes. For us, this is about removing the barriers to growth, not watering down placemaking powers.
"Accordingly, should we be selected for investment, any development plans would seek to protect and maintain these assets for the future.’’
Additional information on Investment Zones is available on the GOV.UK website