Work begins to make Nine Elms an Enterprise Zone (From Wandsworth Guardian)

Work begins to make Nine Elms an Enterprise Zone

2:20pm Wednesday 6th February 2013 in News By Alexandra Rucki

Work is under way to promote business in an area under regeneration by the introduction of an Enterprise Zone.

Richard Tracey, London Assembly Member for Merton and Wandsworth, is campaigning to have Nine Elms, the site of huge redevelopment projects given Enterprise Zone status.

This would give firms discounted business rates and is designed to attract start-up companies.

Mr Tracey, who questioned Boris Johnson last Wednesday during Mayor's question time, said he wanted the zone to cover the whole area.

He said: "That will, we hope, suck in new businesses and new jobs, and new economic wealth for the area.

"The sale of the first tranche of properties at Battersea Power Station is an important step for the regeneration of this whole area.

"Securing Enterprise Zone status and creating an attractive environment for further business investment in the area should be the next priority on the list."

Mr Johnson said the legislation will go through parliament and he will find out what the present size of the proposed zone is meant to be.

Wandsworth Council, who have been campaigning for the enterpise zone, are negotiating the finer details with the GLA.