Combined Authority Mayor and Business Board Chair respond to Government calls for Investment Zone expressions of interest.

Combined Authority Mayor and Business Board Chair respond to Government calls for Investment Zone expressions of interest.

CAMBRIDGESHIRE & Peterborough Combined Authority Mayor, Dr Nik Johnson, and Business Board Chair, Alex Plant respond to the Government’s call for Investment Zone expressions of interest over the weekend. 

Cambridgeshire & Peterborough Combined Authority Mayor, Dr Nik Johnson said: 

“Government has now opened the process for Mayoral Combined Authorities to submit Investment Zone expressions of interest. The Combined Authority have until 14th October to work with local authorities and stakeholders to develop and submit a proposal, where there is consensus.   

“We will continue conversations with partners, across the region, explore the opportunities and where appropriate, identify any potential Investment Zone sites that can take advantage of this new scheme. Full consideration will be given to the economic potential that Investment Zones could deliver, as well as the environmental and planning implications of welcoming a site. We are exploring all options with the aim of identifying sites which will spread new jobs, jobs with quality pay, opportunities and prosperity across our entire region.” 

Business Board Chair, Alex Plant, said:   

“The Business Board will want to assess whether there is potential for Investment Zones in our region to provide opportunities to drive sustainable economic growth in our area.  

“The concept behind the Zones seems to be to designate geographic sites which will receive discounted businesses rates and accelerated planning. The local area will also be able to retain business rates income over an agreed base.  

“We will want to consider, with local government colleagues, whether there are sites in our region that could be suitable as Investment Zones; which could boost productivity, investment and local employment and drive sustainable growth.”