The Chancellor of the Exchequer today announced the extension of Capital Allowances to the long awaited Coleraine Enterprise Zone.
Businesses based in these zones can access a number of benefits such as:
- Up to 100% business rate discount worth up to £275,000 per business over a 5 year period
- Simplified local authority planning, for example, through Local Development Orders that grant automatic planning permission for certain development (such as new industrial buildings or changing how existing buildings are used) within specified areas
- Government support to ensure that superfast broadband is rolled out throughout the zone, and, if necessary, public funding
- 100% enhanced capital allowances (tax relief) to businesses making large investments in plant and machinery on 8 Zones in Assisted Areas
The Enterprise Zone in Coleraine will be located on a site close to the town’s Ulster University Campus, easily accessed by road and rail.