Insider Media Limited

The introduction of an enterprise zone in Northampton will make the town "a commercially attractive place to locate", according to property consultancy Lambert Smith Hampton (LSH).

The government approved South East Midlands LEP's nomination of Northampton’s Waterside district as an enterprise zone yesterday (17 August).

Estimates from the LEP said the status could help create 20,000 jobs in the region.

Stephen Hemming, director of planning, development and regeneration at LSH, said: “This is a good decision for Northampton. It will support the economic growth of the area and makes Northampton a commercially attractive place to locate.

"It has the potential to attract fresh investment, create jobs and result in an environment in which young businesses could thrive.”

The remaining 11 enterprise locations were revealed by the chancellor yesterday. The East Midlands was given the go-ahead for two of its submissions, in Northampton and the MIRA business park in Hinckley, Leicestershire.

Companies within enterprise zones will benefit from tax breaks, super-fast broadband and reduced planning restrictions.

Ian Leather, head of LSH’s Northampton office, added: "The Waterside bid had strong support, including from the University of Northampton. Enterprise zone status will help support the university’s plans for a Northampton Innovation Centre which will bring together business and academia."