Monday, May 29, 2023

Investment zone bids put forward for Lincolnshire

Two expressions of interest have been put forward for sites in Lincolnshire to become new government Investment Zones.

One submission is for an Investment Zone which supports the UK Food Valley, covering Clay Lake, Spalding, and Holbeach Food Enterprise Zone.

The second submission is for an Investment Zone covering Spitalgate, Grantham, which builds on the location and scale of the area.

It is likely that the process will be highly competitive and that only a relatively small number of Investment Zones will be granted, with hundreds of applications expected.

Cllr Colin Davie, executive councillor for economy and place at the county council, said: “Investment zones are a great opportunity to benefit landowners, developers and businesses, with faster, more simple planning processes, a focus on infrastructure requirements, and tax and other local incentives.

“As always, we are ambitious for our area and have prepared bids where we can make improvements straight away and deliver real growth. The tight deadline the government set suggest they will choose submissions where councils are able to deliver outcomes very quickly.”

Councillor Nick Worth, South Holland District Council deputy leader and portfolio holder for people, places, economy, said: “I am really pleased that we have the opportunity to put forward this expression of interest for a new Investment Zone within South Holland, which would support development and growth in the district and help us to attract and create more new and innovative businesses.

“There are already so many examples of forward-thinking and ambitious work being carried out in the local area, with the Holbeach Food Enterprise Zone just one example of the progressive steps we are taking.

“Being chosen as one of the first Investment Zones for the country would provide another great and welcome boost on this journey.”

Jon Hinde, head of economic development at South Kesteven District Council, said: “A successful bid would provide the opportunity for Spitalgate Level to deliver significant housing growth, inward investment opportunities and job creation for the local and wider area.

“This would support South Kesteven District Council’s key ambition to deliver ongoing and sustainable growth of the economy, something fundamental to the success of the district, its businesses and residents.

“The Spitalgate Level Investment Zone would be a key initiative for bringing that growth forward and establishing Grantham, with its existing manufacturing and logistics sectors, as a high value centre connected by the A51, the A1 and benefiting from its new relief road and rail links.”

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