The Aylesbury Vale Enterprise Zone will facilitate the strengthening of infrastructure at the Silverstone Park, Westcott Venture Park and Arla / Woodlands sites; attract and develop new business investment; speed up the growth and development of local enterprise; and help address the business critical infrastructure needs of the sites.
In addition to strengthening the commercial offer of these three strategic employment locations, Enterprise Zone status will support the drive for inward investment projects from abroad.
The Enterprise Zone aligns directly with Buckinghamshire Local Enterprise Partnership’s (Bucks LEP) Strategic Economic Plan, which identifies Silverstone Park, Westcott Venture Park and Arla/Woodlands as three key strategic employment locations all of which have greater, untapped potential to add value to the high performance technology/motorsport; space propulsion/environmental engineering; and agri-food/human health sectors.
The scale and specialised nature of the development, the mix of uses and the highly strategic position, at the heart of the ‘Golden Triangle’ and at the centre of the ‘Oxford to Cambridge Arc’ will enable Aylesbury Vale Enterprise Zone to challenge internationally as a major new employment location over the coming years.
In total, Enterprise Zone designation covers over 960,000 sq. m of commercial land with the potential for the creation of over 8,000 new jobs.
Established in 2012, Enterprise Zones are at the heart of the government’s long term economic plan, supporting businesses to grow. Since their start in April 2012 they have laid down the foundations for success for 540 businesses, attracting over £2.2 billion pounds of private sector investment, building world class business facilities and transport links and attracting 19,000 jobs.
Enterprise Zones are an important part of the Government’s programme to devolve responsibility for leadership of local growth and provide a powerful tool for Local Enterprise Partnerships to develop their local economy.
The latest call for Enterprise Zones was made by Government in July 2015, with Bucks LEP – with the support of Aylesbury Vale District Council, Buckinghamshire County Council and landowners and site developers – submitting an application in September.
The success of the Aylesbury Vale application was announced by Chancellor George Osborne as part of his Autumn Summit in November 2015.
Aylesbury Vale Enterprise Zone is a partnership between the public and private sectors to deliver a significant commercial development for the wider benefit of the local and regional economies. It brings together representatives of the local authorities in Buckinghamshire along with business representatives and those from other public sector agencies with an interest in the Enterprise Zone.