Swindon is bidding to have two investment zones.
The borough council has identified two areas, Central Swindon and the A419 corridor, which it believes are suitable to benefit from the tax breaks, stamp duty relief, National Insurance contributions and relaxed planning laws the zones offer.
The Government announced the introduction of investment zones in September to try to drive economic growth and unlock new housing projects across the country.
The Central Swindon investment zone will be based around the Carriage Works, a part of the old railway workshops which is now a hub for tech SMEs.
It has development land nearby and there are schemes which propose more than 1,000 homes and 25,000 sq m of offices on adjacent sites.
The A419 corridor investment zone is centred on land around the former Honda site, which has been identified for employment use in the Local Plan and where Panattoni plans to invest £750 million.
Cllr David Renard, leader of Swindon Borough Council, said: “We are already growing at pace, but if these two investment zone bids are successful, we could grow even faster. It would turbo charge our primary growth clusters and make us an even more attractive place for businesses to invest.
“We have been incredibly successful in securing Government funding over the last few years and it is important we continue to demonstrate our ambition for the town so we build on the exciting developments that are already taking place within the borough.
“We want our economy to keep going from strength to strength so we deliver homes, jobs and a better quality of life for all our residents.”
Image shows the former Honda site on the A419 corridor at Swindon.
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