Three potential investment zones named for Dorset
Dorset Council has submitted 'Expressions of Interest' to the government
Last updated 18th Oct 2022
Weymouth, Portland and Wool have been put forward by Dorset Council to the government as possible investment zones for Dorset.
It's understood government investment zones will offer tax breaks for potential investors and a simplified planning process to accelerate development.
The aim is to attract new investment to create jobs.
The proposals for each area are:
Weymouth
Several regeneration sites around the waterside at Weymouth harbour and marina. The proposal is to redevelop disused and under-developed sites to provide homes and jobs, with opportunities for commercial and leisure developments.
Portland
The port area, offering opportunities for commercial and business operations, and a residential site in Castletown. It should be noted that the proposed location for an incinerator at Portland Port (currently going through the planning process) is explicitly excluded from the Expression of Interest. The decision on the incinerator is subject to the independent planning process and will be unaffected by any proposal for an Investment Zone.
Wool
A site adjacent to the existing Dorset Innovation Park to build on the success there by offering further investment and development opportunities for key sectors including advanced engineering and manufacturing.
It is not yet known when the government will announce decisions on Expressions of Interest for Investment Zones.
Cllr Tony Ferrari, Portfolio Holder for Economic Growth, Assets and Property at Dorset Council, said:
“We have submitted three strong Expressions of Interest for possible Investment Zones. We welcome any opportunity to attract investment, improve infrastructure, and create jobs here in Dorset. The three proposed locations offer great potential for economic development and are suitable for this kind of activity.
“However, I should also say that we have received only limited detail so far from government about how Investment Zones will work. Our Expressions of Interest do not represent a commitment by government or by Dorset Council. We await further detail from government so we can assess the potential pros and cons of an Investment Zone before making any formal commitment following council processes.”