Northampton Waterside has been selected by the Board of the South East Midlands Local Enterprise Partnership (SEMLEP) as their preferred Enterprise Zone, which will be submitted to the government on 30 June 2011.

Enterprise Zones are one of the key tools that the Local Enterprise Partnership will have to support job growth and investment in the area. The Northampton Waterside proposal will create 14,000 jobs and hundreds of new businesses in an area close to the town centre and along the river frontage in the town. The Zone will encourage growth in key sectors that are important to SEMLEP such as high performance engineering.

In taking the decision on which Enterprise Zone to support, the Board took full account of the opportunity for enterprise and growth in the local area and also its potential to drive economic growth in the wider SEMLEP area. Northampton sits at the heart of the high performance engineering sector with strong links to Silverstone and Rockingham and a number of important businesses such as Cosworth, Mercedes Benz, Mugen Motorsport and Ilmor Engineering

SEMLEP will be working closely with businesses, local authorities and other organisations such as the University of Northampton to deliver the Enterprise Zone. There is strong support from partners across the area.

In total 8 Enterprise Zone ideas were submitted for consideration by SEMLEP.

This has assisted the Board to recognise a number of strategic employment sites in the area that also need support to ensure that SEMLEP is driving economic growth. Two key proposals with links to high performance engineering have also been identified at Silverstone and Rockingham have already been identified and there are also important sites in Bicester and Luton. The Board will look at how these proposals can also be supported as part of its Business Plan development.

Brian Hibbert CBE, Chair of the Interim SEMLEP Board said: “This is an excellent opportunity for SEMLEP to put forward a strong bid to the national competitive process. The Northampton proposal will bring benefits locally, to SEMLEP and to UK PLC.”

David Palethorpe Leader of Northampton Borough Council said: “Northampton has a proven track record for growth and enterprise and this Enterprise Zone initiative is the stimulus we need to create thousands of new jobs bringing prosperity to our town and the wider SEMLEP area. We appreciate the support shown to our bid by the Board and will continue to work within the partnership of SEMLEP.”

Further information can be found on the Northampton Waterside website.

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