Insider Media Limited

A total of 27 local enterprise partnerships (LEPs) have expressed an interest to clinch one of the remaining ten enterprise zones up for grabs. The deadline for new bids is 5pm on Thursday (30 June).

In the Midlands, interest has come from The Marches - Shropshire and Herefordshire; South East Midlands; Stoke and Staffordshire; Worcester; Leicester and Leicestershire; Lincolnshire; Greater Birmingham and Solihull; Derby, Derbyshire, Nottingham and Nottinghamshire; and Coventry and Warwickshire.

The government claims that enterprise zones can help make this country "the best place in Europe to start and grow a business". 

They offer benefits including a business rate discount worth up to £275,000 per eligible business over a five-year period.

All business rates growth within the zone for a period of at least 25 years will also be shared and retained by the local area. Superfast broadband will also be included in the sites as well as "simplified planning approaches".

Communities secretary Eric Pickles said: "Bidders have no time to lose. Only the best will be get the go ahead and I want to see different areas put their very best ideas forward. I'm delighted by the ambition that we've already seen coming through."

John Rider, chairman of the Institute of Directors West Midlands, added: "Enterprise zones will show local government across the country that deregulating, reducing tax and investing in key infrastructure brings significant long term benefits for business and local communities alike."

Eleven enterprise zone sites have already been decided with a further ten available through a second wave competition.

The successful sites are in: Birmingham and Solihull, Sheffield city region, Leeds city region, Liverpool city region, London, Greater Manchester, West of England, the Black Country, Derby and Nottingham, Tees Valley and the North East.