The Government recently agreed to designate a collection of regeneration sites in Bath city centre and in the Somer Valley as an Enterprise Zone. This is fantastic news for businesses in our area.
What is an Enterprise Zone?
Enterprise Zones are designated areas across England that encourage business growth and new jobs by providing tax breaks and Government support. They are great places to do business especially for both new and expanding firms.
Key benefits for business
Business rates relief
Up to 100% business rate discount worth up to £275,000 per business over a 5-year period. Find out more about business rates relief in Bath and the Somer Valley
Ultra-fast broadband will be available in the Enterprise Zone. Bath will be a “Connected City” with free Wi-Fi connectivity in all public places in the city centre. Find out more about broadband in the Enterprise Zone
- Significant new grade A office floor space
- Flexible work space to enable young companies to expand
- Smaller offices for digital and creative industries
- Modern employment floor space in a range of sizes to meet business needs
About the Bath & Somer Valley Enterprise Zone
Bath and North East Somerset is already a thriving, vibrant economic hub with a global reputation and extremely attractive to entrepreneurs, business students and internationally renowned organisations. The city and wider area are on the brink of some exciting changes that will shape the region’s economic and social future.
Much of this will take place in the Bath and Somer Valley Enterprise Zone, which spans two geographical areas: Bath City Riverside and the Somer Valley Enterprise Park (see map below).
Bath City Riverside will become a new commercial quarter and central business district that will offer flexible workspace options including new grade A office space, a residential quarter and leisure facilities. It has the potential to deliver approximately 1 million sq ft of work space.
Somer Valley Enterprise Park is an allocated greenfield development site that has the potential to deliver 540,000 sq ft of bespoke employment floor space. It will be perfect for office, manufacturing or light industry and the area has an existing skilled workforce that currently out-commute for work.
You can use an online map to check the boundary of the Enterprise Zone. Enter a postcode in the ‘search for a location' box and then select an address from the list. The area covered by the Enterprise Zone is shaded in dark green Enterprise Zone boundary map
When is all this happening?
Take a look at the timeline to see when new workspace will be available within the Enterprise Zone.
Bath: best for business
There are many reasons to grow your business in Bath:
- highly skilled workforce 700,000 strong workforce, the most skilled of any English city region
- location good access to Bristol, London, Bristol international airport
- sector clusters including: creative and digital; ICT; engineering and electronics; professional and financial services; low carbon
- lifestyle beautiful city, arts and culture, excellent state and private schools, countryside and city living.
If you would like to find out more about the Enterprise Zone, please e-mail firstname.lastname@example.org or call 01225 394285.