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People in Suffolk and Norfolk could benefit from 10 thousand new jobs if a plan is successful.
A bid is being made to the government, which could see Lowestoft and Yarmouth being made into something called an enterprise zone, which would give more help to businesses. It would see up to 2,000 jobs and attract 80 businesses by 2015 and 13,500 jobs and 200 businesses over the lifetime of the zone.
The jobs would all be in the energy industry, with the different zones being in South Denes, Beacon Park, Ellough Industrial Estate, South Lowestoft Industrial Estate, Mobbs Way and Riverside Road.
30 places across the country are going for it, but only 10 will get picked. 11 have already been chosen.
The government is establishing 21 enterprise zones across England, all of which will benefit from simplified planning rules and a business rate discount for new and expanding businesses.
At a meeting yesterday lunchtime, The New Anglia LEP Chairman, Andy Wood, explained what the bid was about and said, that this new zone is deliverable with sites ready to go right now requiring very little additional infrastructure. It will create thousands of jobs and is timely because of significant investment plans by major energy providers in the next few years.
The decision is expected to be made later on this summer.