Investment Zone applications open

Areas are being urged to apply to host a new Investment Zone.

From 2nd October, the Department for Levelling Up, Housing and Communities is inviting expressions of interest for Investment Zones from all local areas in England.

Investment Zones aim to boost growth, deliver homes, spread opportunity and create jobs. The zones offer lower taxes and different planning rules with the aim of boosting investment and development. Over the next ten years, Investment Zones could see reliefs on business rates, stamp duty land tax and employer national insurance contributions.

The government has been working with local areas and has had talks with 38 councils about the proposals.

Applications for expressions of interest close on Friday 14 October, and applicants will need to set out the potential economic opportunities of an Investment Zone in their area, how they will support long-term economic growth and how to mitigate any potential environmental impact.

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