• Thu. May 23rd, 2024

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Enterprise Zone Launches in Town’s Historic Quarter

MIDDLESBROUGH’S booming digital and creative business sector is set to benefit from a new enterprise zone in the heart of the city centre.

The town’s Historic Quarter becomes the latest of the Tees Valley’s 12 Enterprise Zones.

Centred on the thriving Boho digital cluster, the unique offer includes newly refurbished Grade A office space, buildings with considerable architectural and historical merit and a prime central location near the rail station and leisure area.

Enterprise Zones are part of the government’s Industrial Strategy aiming to support business growth across the country.

Each Enterprise Zone is unique, building on the strengths of its surrounding area and support industries such as manufacturing, emerging technology and renewable energy.

Eligible companies looking to locate to the Enterprise Zone may qualify for up to £55,000 a year of rate relief over five years.

Companies will need to demonstrate they belong to the digital technology or creative sector and how their business intends to grow over the next five years.  

Councillor Lewis Young, Middlesbrough Council’s Executive Member for Economic Development and Infrastructure, said: “Middlesbrough’s Historic Quarter is firmly rooted in the town’s rich heritage, but it is already playing a key role in our ambitious plans for the future.

“Our thriving digital business community will be one of the catalysts for growth at the heart of the Enterprise Zone, and that will complement the surge in business confidence we’re currently seeing right across the town.

“This is an exciting opportunity to further support this high growth sector and encourage additional inward investment into Middlesbrough, consolidating our status as the city heart of the Tees Valley.”

By admin