A new enterprise zone in Huntspill has been approved by government as part of today’s Autumn Statement announcement.

Huntspill Energy Park  was chosen for its economic potential, with the potential to support new high value jobs over the next 25 years.

Enterprise zones enable the local area to retain a greater share of business rate income which would otherwise be returned to national government. They offer discounted rates to new businesses locating in the zones, simplified planning rules and other support, such as enhanced broadband provision.

The bid was successful because of the "clear alignment with the Heart of the South West LEP’s strategic economic plan, which identifies Hinkley Point C in Somerset as a transformational economic opportunity".

Steve Hindley, Chair of the Heart of the South West Local Enterprise Partnership (HotSW LEP) said: “We are delighted with today’s announcement of our successful bid. It demonstrates the government’s confidence in the HotSW area and its potential for transformational growth.

“Our enterprise zone will benefit the whole of the Heart of the South West economy.”

Councillor David Hall, Somerset County Council’s Cabinet Member for Business, Inward Investment and Policy, said: “We’ve worked closely with the Planning Authority and the Heart of the South West Local Enterprise Partnership on this bid and are delighted to hear that it has been successful. Enterprise zone status will help enable the development of key sites, including the Huntspill Energy Park near Bridgwater, into important local employment sites.

The Huntspill Energy Park will secure supply chain investment linked to Hinkley Point C, as well as enabling business rate relief for small and medium sized enterprises. Today’s announcement is great news for the local economy in Sedgemoor and across wider parts of Somerset and the South West.”

Councillor Duncan McGinty, Leader of Sedgemoor District Council said: “We are delighted that our joint bid for enterprise zone status for Huntspill Energy Park at Puriton and its partner sites within East Devon has been successful. This new status will offer renewed opportunities to unlock employment and investment on the site, and in the surrounding area, as well as to enhance our ability to attract investment linked to Hinkley and beyond.

Critically, it places BAE Systems site at Puriton within a small group of nationally important centres for growth spread across the country, recognising the effort being put in within the District and along the wider M5 corridor.

“We now look forward to working with Government on the detail of the bid in conjunction with our partners in Devon and the Local Enterprise Partnership.”

Earlier this year, the government encouraged LEPs propose new enterprise zones, and the successful ones were selected based on how LEPs demonstrated that EZ status will provide the catalyst for growth that these areas needed.

HotSW LEP Board carried out a transparent process to seek expressions of interest from all local authorities, and the successful multi-site proposal was based on the government’s application criteria: strategic fit with the HotSW LEP’s economic plan; value for money – i.e. economic benefit and rate of return greater than the cost of the investment; and implementation – i.e. how will delivery be assured and local investment made to support the zone.

Huntspill Energy Park is a 90 hectare site on a former munitions facility owned by BAE Systems. The Huntspill site is complementary to the government’s investment in Hinkley Point C; it supports the Hinkley supply chain and provides a platform for growth of a new nuclear cluster. EZ investment will help to secure growth in this sector and enable the construction of a new access road and remediation works.