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Discounted rates for new businesses in enterprise areas

Discounted rates for new businesses in enterprise areas

New businesses could get discounted rates of as much as £220,000 over the next four years under changes to regulations.

The list of activities eligible for funds has been extended by the Scottish Government.

Start-up companies that intend to trade in one of the four enterprise areas established by the Government last year can apply for the discount.

The four business sectors within which firms may benefit, defined by the enterprise areas, are “life sciences; low carbon/renewables north; low carbon/renewables east; and general manufacturing/growth sectors”.

The enterprise areas will be located at 15 sites across the country.

Finance Secretary John Swinney has described these sectors as examples of Scotland’s most dynamic industries which the Government is committed to develop.

During a visit to the Arnish land development site on the Isle of Lewis last week, where £2 million of funding is being spent, Mr Swinney said: “We are securing tenants and at Arnish I saw first-hand how infrastructure enhancements are being carried out to get the sites business-ready, creating jobs in the process.

“There are a range of incentives available in the enterprise areas to encourage businesses to bring forward investment, boost economic growth and stimulate job creation.

“The money saved thanks to substantial rates reliefs can be invested to grow, or used to take on new staff earlier than would otherwise be the case. This is good news for our economy.”

Over the past year tenants have moved into three of the 15 sites, for example at Bioquarter in Edinburgh, while other locations are preparing to welcome tenants such as Creative Clyde in Glasgow and Forres Enterprise Park in Moray.

Proposals have also been unveiled for an enterprise area in West Lothian under an “economic recovery plan” which was announced after the Vion meat processing plant in Broxburn was shut, leaving 1,700 workers out of a job.