Enterprise Zones were first introduced in the U.K. in 1980 and their influence, and the distortion they create in local property markets, is well recognised and long?lived. There is a wealth of literature both from the U.K. and U.S.A. about their strengths (encouraging capital investment in locations that might otherwise receive little attention) and weaknesses (occupier displacement and poor value for money to name a couple). Scrutinising the Enterprise Zone Prospectus (CLG 2011) published shortly after the Chancellor announced the Government’s intention to introduce up to 21 new EZs in England, it is evident that there is some cognisance amongst policy makers of the flaws and side?effects of the old model. This article reviews the new proposals and offers comparison with the ‘old style’ EZs.
|Published - 23 May 2011