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<p>Enterprise Zones act as a driving force for growth in local economies as they unlock
key development sites, consolidate infrastructure, attract business and create jobs
across 48 locations within England.</p><p> </p><p>Government has provided a range
of funding and other incentives for Enterprise Zones, including a £120 million ‘Building
Foundations for Growth’ grant fund to accelerate development in Enterprise Zones,
a five year tax relief for businesses and simplified planning processes.</p><p> </p><p>LEPs
have utilised proportions of their Growth Deal programmes to support development in
their Enterprise Zones.</p><p> </p><p>The ability to retain business rates locally
for 25 years allows LEPs to borrow against predicted income which provides a sustainable
funding model to support improvements required in the Enterprise Zone as well as in
the wider local economy.</p>
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