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Enterprise Zone could bolster local business – Sugden

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Claire Sugden MLA has welcomed the repeated commitment of the Chancellor of the Exchequer to establishing an Enterprise Zone in Coleraine.

MLA Sugden said:  “I am pleased the Chancellor has reiterated his commitment of establishing an Enterprise Zone in Coleraine in today’s Budget speech. I have been working closely with local council and the Office of First Minister and deputy First Minister to ensure the UK Government follows through on their 2014 promise.

Recently, I wrote to the Secretary of State expressing my concerns about the slow progress of establishing the Enterprise Zone. I am pleased the UK Government has responded by providing extra capital allowance .

I believe the data centre is the tip of the iceberg of opportunities for the wider North Coast. Along with a reduction of corporation tax and Project Kelvin, we are uniquely placed within the world to offer this type of incentive for foreign investors.

I also believe the Enterprise Zone has the potential to bolster current local business. The jobs that come with a data centre are in reality minimal, but the necessary infrastructure and the business it will eventually attract are important for existing businesses.

I will continue to work closely with local government and the NI Executive to ensure that we make the most of our huge window of opportunity that does not have to be limited to Coleraine.”

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