Dorset Innovation Park Enterprise Zone - Quadrant site
Growth Deal funding up to £600,000
Dorset Innovation Park has been recognised as one of South West England’s greatest opportunity sites for science park style development. The site boasts 50 hectares of serviced employment land and two nationally important defence sector advanced engineering companies.
With local growth funding, the public sector can proceed to acquire the site, and Purbeck Distrct Council can invest in much needed small workspace, secure the confidence of key expanding companies (Atlas Elektronik UK and QinetiQ) and provide the opportunity for significant private sector investment in innovation facilities on the site. The site is not only important for strategic employment purposes, but will facilitate much needed housing development in adjoining rural communities that are being considered through the partial review of the Purbeck Local Plan.
Enterprise Zone status was awarded for Dorset Innovation Park in 2016. Enterprise Zones are part of the government’s long-term economic plan to support business and the creation of jobs by transferring the leadership of growth to local areas.
It is envisaged that Enterprise Zone status will:
- Facilitate 2000 new jobs, 55 new businesses, 58,000 sq. metres of workspace and about £30m of business rate retention which will help improve the site and local infrastructure;
- Enable a total land value uplift estimated to be in the order of £9.35m with high additionality;
- Enable much needed extra employment land to be freed up, both for existing companies on the site which are actively looking to expand and for companies across Dorset which are struggling to find space, providing particular incentive for inward investment activity and growth of relocated local companies;
- Enable the site to become an exemplar development of the first fully decommissioned nuclear site in the UK.
Further information about Dorset Innovation Park Enterprise Zone can be found here.