Chancellor commits to Coleraine Enterprise Zone

George Osborne
George Osborne

The Enterprise Zone in Coleraine is to get an extra capital allowance.

The announcement was made by George Osborne, Chancellor of the Exchequer, as part of his budget speech to MPs.

He revealed that the zone, at a site close to Ulster University would get an ‘extra capital allowance’.

The enterprise zone for Coleraine was first announced back in 2014. It will be built at a site close to Ulster University.

IT company 5Nines have previously announced a £20m data centre for the site.

Enterprise zones already exist elsewhere in the UK and offer hi-tech businesses tax incentives and simplified planning procedures.