Coleraine enterprise zone is close

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News

The enterprize zone for Coleraine, first announced back in 2014, is finally a step closer.

The First Minister and deputy First Ministers have this week writted to the Chancellor, seeking formal designation of the pilot Enterprise Zone covering two sites at the UU’s Coleraine campus.

The news has been welcomed by the MP for the area, Gregory Campbell.

“It comes after several years of procedural and locational wrangling.

“This is a welcome step forward, and given that the Chancellor originally announced the concept and the location in NI some considerable time ago, I trust that he will now accept the request and move swiftly to bring forward the necessary legislation.

“Events of the last few days have demonstrated the need to have as many economic levers at our disposal as possible.

“An Enterprize Zone can be another tool for the Executive to use as we seek to attract investment and provide much needed employment.

“Bringing forward an Enterprise Zone and other steps such as the devolution of Corporation Tax will be essential if we are to make a radical difference in terms of economic development.

“Jobs have been created at a significantly better rate than elsewhere in the UK in recent years but we have much ground to make up given the massive problems we have had in the past, even last week proving the case in Ballymena.

“We have heard from the government about how they wish to help, this action will be a step in the right direction.’