Finance Secretary John Swinney outlined the range of new business incentives that are available to encourage private investment in Scotland’s four new Enterprise Areas, during a visit to the Port of Dundee this morning.

Incentives and actions to stimulate investment include: business rate discounts worth up to £275,000 per business or enhanced capital allowances; new streamlined planning protocols across all sites; skills and training support; and an international marketing campaign to promote the sites.

The Finance Secretary announced the creation of four enterprise areas, across 14 sites, earlier this year. The areas are sectorally focused on the industries with the greatest potential to boost economic growth: life sciences; general manufacturing and growth sectors; low carbon/renewables east; and low carbon/renewables north.

The Port of Dundee is part of the Low Carbon/Renewables East Enterprise Area and is a key renewables site identified within the National Renewables Infrastructure Plan (N-RIP). There is currently strong interest from renewables manufacturing companies in the site, which is 67.0 hectares in total, split between waterfront land at the port and an industrial site two miles inland at Claverhouse East.

The following incentives will apply across Scotland’s Enterprise Areas:

• On most Enterprise Area sites businesses can claim up to 100 per cent rates relief worth up to £275,000 over the five year timeframe of the Enterprise Area policy.

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• A framework to facilitate a swift planning process has been developed and agreed by local authorities and COSLA to ensure a speedy approach to handling planning consents in Enterprise Area sites.

• Prioritising the delivery of next generation broadband to every EA site by 2015 at the latest, in line with targets set out in the Scotland’s Digital Future: Infrastructure Action Plan.

• An international marketing drive to promote Enterprise Areas - led by Scottish Development International.

• Instead of rates relief, Enhanced Capital Allowances on plant and machinery at Dundee, Nigg and parts of Irvine to encourage investment.

•Skills Development Scotland, as part of its ongoing contribution to the Team Scotland approach, will offer a customised, client-focused service to deliver appropriate and tailored support to employment opportunities.

Cabinet Secretary for Finance, Employment and Sustainable Growth, John Swinney, said: "The Scottish Government and our enterprise agencies are working hard to retain Scotland’s position as the most competitive environment for business in the UK. We are doing all we can to support jobs and secure new investment in our communities, and Enterprise Areas are another means to help us achieve this.

"To help stimulate private investment we have established a range of incentives including business rates discounts, new planning protocols, an international marketing campaign to target overseas investors and a commitment to deliver next generation broadband to these sites before 2015.

"The Scottish Government has worked closely with our enterprise agencies to select these sites, which are strategic locations for some of our key growth sectors. Our Enterprise Areas are now open for business and Scottish Enterprise and Highlands and Islands Enterprise will work closely with local authorities and the business community to maximise the economic potential of each site."

Charles Hammond, Chief Executive of Forth Ports, owner of the Port of Dundee, said: "The creation of the Low Carbon/Renewables East Enterprise Area is excellent news for inward investment and jobs in Dundee as we set about establishing the city as a renewables hub centred around the Port of Dundee. The location of the port, with its deep water capability and land availability, makes it attractive to the offshore renewables manufacturing industry and we continue to progress a number of strong enquiries from companies keen to locate at the port. This is a great example of the Scottish Government, Scottish Enterprise, Dundee City Council and the private sector working closely together to bring these important opportunities to Dundee."

(GK)