ABLE welcomes Enterprise Zone vote of confidence

Posted on the : 17th August 2011

Confirmation today that ABLE UK‟s multi-million pound Marine Energy Park project will be at the heart of the largest Enterprise Zone in the country has been welcomed as ‘great news for our company, great news for the thousands of people who will be employed—and a demonstration that, by working together, the Humber will become a major Twenty First Century success story.’

That was the reaction of ABLE UK founder and Executive Chairman Mr Peter Stephenson following the announcement from Prime Minister David Cameron of Government approval for the Humberside Waterside Enterprise Zone, based on key sites on both sides of the river.

Enterprise Zone status offers a range of benefits including reduced business rates and enhanced capital allowances. This will greatly assist the type of companies which Able is seeking to attract. In addition it will provide a simplified planning regime and superfast broadband, covering a total of 375 hectares with the majority, around 250 hectares, comprising the Humber Ports Port site on the South Bank.

The £450million development for the Park will include provision of state-of-the-art quayside facilities purpose-built for the construction, manufacture and installation of offshore wind turbines and is a key part of the overall Humber Ports development, the largest site available for port-related developments in the UK and almost certainly Europe.

Said Mr Stephenson “This is a major step forward not just in terms of the vote of confidence in our development but in establishing the whole of the Humber as a world-class centre for renewable energy technologies. Gaining Enterprise Zone status will provide a major boost to the drive to attract major international companies and investors and what it clearly demonstrates is the benefits of the Humber region, on both sides of the river, working together in unity through the new Local Enterprise Partnership whose efforts have been central to gaining Government backing for the Enterprise Zone plans.”

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