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28 May 2014, 16:42
The government has announced a further £3 million to develop Beacon Park to attract new energy firms.
The park is part of the Great Yarmouth and Lowestoft (New Anglia) Enterprise Zone and the additional investment will help Great Yarmouth Borough Council, owner and developer of the business park, complete important infrastructure to open up the whole site for development.
It's expected that the additional investment will also bring in an additional £7.3 million over the next two years which will see seven new industrial and office buildings developed, targeted at growing energy sector companies.
"This announcement further bolsters this region’s reputation as an unrivalled energy centre," says Mark Pendlington, chairman of the New Anglia Local Enterprise Partnership. "In the two years since the Enterprise Zone has been created nine companies have opened up businesses there and over 450 jobs have been created.
"The additional cash can only increase those figures, bring further prosperity to the area and once again prove that Norfolk and Suffolk can match the demand needed in the energy sector."
Cllr Trevor Wainwright, Leader of Great Yarmouth Borough Council said: "We are delighted with this extra funding to further expand Beacon Park, which is a huge vote of confidence in the local economy and in the Borough Council’s ability to deliver.
“We have already seen a number of companies relocating to Beacon Park, both from the local area and further afield, creating both new jobs and a vibrant area of economic activity. Investment in the Park from both the public and private sector continues to produce strong interest from potential occupants."
George Nobbs, Leader of Norfolk County Council said: "It is my hope that this announcement marks a new dawn of prosperity and investment in Great Yarmouth, a town which has always done its best to meet every new challenge. In terms of the energy sector, what is good for Great Yarmouth is good for the whole of East Anglia."
Beacon Park Enterprise Zone site, Gorleston, already has six businesses up and running, including global offshore manufacturing firm NOV Hydra-Rig, Virgin Atlantic Flightstore, ElectroTech, Diesel Power (East Anglia) Ltd, Nexus engineering training centre and MacLean Electrical.
The Enterprise Zone, which is part of the East of England Energy Zone, is based across 6 sites in Lowestoft and Great Yarmouth. It provides a range of benefits for energy-related businesses to help them grow. These include discounts on business rates of up to £275,000, simplified planning and super-fast broadband.