A flagship business rates discount scheme which has transformed swathes of former industrial land in Stoke-on-Trent is to be extended for a further five years.
The Ceramic Valley Enterprise Zone (CVEZ) Business Rates Discount (BRD) scheme, launched in 2016, has already helped secure 1,969 jobs and significant inward investment.
With the zone on track to deliver over 4,300 roles by 2028, Stoke-on-Trent City Council has confirmed the BRD will run until March 2031, subject to approval by the cabinet next week. For the first time it will cover every CVEZ site within the city boundary, including Etruria Valley.
Eligible new occupiers in professional services, manufacturing, industrial uses, and creative industries will benefit from up to £100,000 a year in rates relief for their first three years.
The discount is funded from the future growth in business rates generated by the developments, allowing the council to reinvest in local priorities without reducing core services.
Councillor Jane Ashworth, leader of Stoke-on-Trent City Council and cabinet member for economic development, culture and sport, said: “The Ceramic Valley Enterprise Zone has been a terrific success so far, bringing in jobs and businesses across a wide range of sectors and transforming a large swathe of former industrial brownfield land into an attractive area for modern businesses.
“So, it absolutely makes sense to extend and expand the business rates discount to help attract further inward investment and give companies the incentive to set up here, adding to the economic prosperity of the area – benefitting everyone.”
The CVEZ covers a three-mile corridor along the A500, across six sites totalling 140 hectares. By 2028, plans include 116 hectares of land brought back into use, 250,000 sq m of new commercial floorspace, and 90 new businesses operating from the zone.
It aims to lock in long-term benefits for the city’s supply chain, labour market and property sector.
With higher-value industries targeted, the scheme is expected to generate more skilled employment, boost business-to-business activity, and stimulate demand for support services.
