Client: Various

AMION Consulting has recently conducted a review of the growth models for the Enterprise Zone and Enterprise Areas within the West of England (WoE). We were responsible for developing a consistent set of linked projection models for growth across all the areas.

The Growth Incentive Deal, which forms part of the overall City Deal, would allow the four WoE authorities (Bath and North East Somerset Council, Bristol City Council, North Somerset Council and South Gloucestershire Council) to keep and pool 100% of the growth in business rates raised in the designated Enterprise Zone and Areas over a 25 year period.

This includes a review of the projections and assumptions associated with a number of proposed developments. This would ensure that rather than losing any growth in business rates generated from within these areas into the national ‘pot’ after each ‘reset’ period or through a ‘levy’ (as proposed under the arrangements for local government financing), business rates growth would be retained locally and could be invested, alongside other sources of funding, to create an Economic Development Investment Fund.

This fund will deliver a programme of investment designed to maximise economic returns, including ‘critical infrastructure’. We prepared a consolidated model of business rate growth and economic and employment impact, based upon a consistent assessment of each of the Enterprise Areas and technical report; both of which informed the submission to Central Government in respect of this component of the City Deal.

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