Mar 24 2011 By Jane Clare and Marc Waddington
MERSEYSIDE’s new Enterprise Zone – which incorporates Wirral Waters – has been described as a "fantastic vote of confidence" in the future of the area’s economy.
It has also been hailed as an opportunity to make the North West the new South East, attracting major investment to Wirral and Liverpool.
The announcement that the two waterfront developments led by Peel Holdings - Wirral Waters and Liverpool Waters - would become the city region’s designated Enterprise Zone means companies will benefit from significant tax breaks if they relocate or set up new operations here.
Firms will also benefit from relaxed planning legislation which it is hoped will further entice them to move into Merseyside.
Peel Holdings – which aims to develop both projects over a 30 year period – also said the news of the zone's creation was greeted with excitement in China, where Merseyside has forged strong links in recent months through the Shanghai Expo.
Cllr Jeff Green, Leader of Wirral Council said: "Today’s announcement by Government represents a fantastic additional vote of confidence from the Government in the future of Wirral’s economy.
"It is the culmination of discussions that I began in January with the Prime Minister and hard work carried out by Wirral, Peel Holdings and Liverpool City Council to deliver this announcement.