Bradford Council’s Executive is to consider proposals to provide a significant rates relief package for companies currently based at the Gain Lane Enterprise Zone.
Rates relief of up to £350,000 over three years could be offered to firms operating from Gain Lane before 31 March 2022.
If successful, the Council could use this as a model to offer similar relief at the other Enterprise Zone sites on Parry Lane and Staithgate Lane.
Enterprise Zones are specifically designated areas within England, approved by Government where businesses can receive tax breaks and other government support.
The rate-relief offered by the Council at Gain Lane would be reimbursed by the government.
This month, preparation of the second Bradford District Enterprise Zone at Parry Lane was completed and is now being marketed by the Council.
The project is the first in the district to deliver off-site environmental improvements which will be required under the latest Environment Act.
Planting trees, shrubs and wildflowers on a site at Douglas Road will offset the loss of biodiversity within the development site.
The green additions will improve an unmanaged area of land, provide a better environment for local residents, improve air quality, help reduce the potential for flooding, muffle noise pollution and soak up carbon to reverse climate change.
The Council will use Douglas Road as a demonstration project to show developers how to follow new legal requirements to improve the environment in new developments.
The old Yorkshire Electricity Board depot was ear-marked as an Enterprise Zone in 2016 and West Yorkshire Combined Authority provided £8.5m in funding from its Growth Deal and Getting Building Fund.
Councillor Alex Ross-Shaw, Portfolio Holder for Regeneration, Planning and Transport, said: “Our new Enterprise Zones join a raft of local initiatives designed to boost growth, investment and jobs.
“If approved, this package of measures provides powerful incentives to attract businesses to the district.
“We know that demand for employment land is huge across Bradford district and by delivering these sites we’re providing the space needed for businesses to grow, invest and create more jobs.
“The new Enterprise Zones will help our area to spearhead the green growth revolution turning disused brownfield sites into valuable and productive spaces with low environmental footprints.”
Bradford Council’s Executive meets Tuesday 7 June.
