Cheshire Science Corridor Enterprise Zone
Cheshire Science Corridor Enterprise Zone (led by Cheshire and Warrington Local Enterprise Partnership in partnership with the three local authorities of Cheshire West and Chester; Cheshire East; and Warrington)
The Cheshire Science Corridor is a crescent that crosses the northern part of the Cheshire & Warrington sub-region linking together nationally and internationally significant research facilities and established science based businesses. It builds on the area’s key strengths of a strong, educated and entrepreneurial labour market and good connectivity by road, rail, water and air.
Enterprise Zones are designed to encourage and accelerate economic growth and investment through a range of business incentives. Towards this aim, it brings together a portfolio of sites and premises, including Protos, which maximise the benefits arising from the assets of the Cheshire Science Corridor and wider sub-region across all aspects of science and innovation, by facilitating significant opportunities for collaborations and synergies between businesses, institutions and research establishments.
Involvement at Protos:
The Enterprise Zone brings together the best commercial opportunities within the Cheshire Science Corridor, of which Protos is one. As an Enterprise Zone site within an Assisted Area, Phase 1 of Protos is able to offer occupiers Enhanced Capital Allowances (ECAs), enabling businesses to write down the costs of qualifying plant and machinery assets against their taxable income. Occupiers are eligible for a 100% first year allowance on capital expenditure on qualifying assets until 31st March 2024. The maximum capital investment that can qualify for enhanced allowances is €125 million per project and the new capital investment must be maintained in the Assisted Area for a period of five years. Further details are available from HMRC.