Incentive to promote 4M development

Aug 8 2007 by Tony McDonough, Liverpool Daily Post

MORE than £1.5m of funding is up for grabs by developers for the creation of commercial premises in Ellesmere Port.

The money is part of an ongoing regeneration scheme to create investment and bring jobs into the area.

The 4M Economic Development Zone (EDZ), named because two motorways, the Manchester Ship Canal and the River Mersey surround the area to be regenerated, is one of 15 areas in the North West, specially selected to receive European and NorthWest Development funding to help boost and diversify the local economy.

The EDZ money works by plugging the financial gap that can be experienced by developers when building commercial property in areas of regeneration.

The 4M EDZ project, managed by Ellesmere Port and Neston Borough Council, is well under way, with much of the money committed to the creation of office, warehouse and light industrial premises, but there is still £1.6m left for developers.

Commercial developers who wish to build can still apply for as much as 15% towards the total cost of a project.

Lisa Conway, regeneration and economic development manager at the council, said: “The EDZ has enabled huge improvements to some former industrial areas of Ellesmere Port.

“In addition to creating smart business areas, this regeneration builds upon our work to bring a wider mix of employment opportunities for local people, to ensure the area retains a modern and vibrant business economy.”

Several new sites are already being created in the 4M EDZ, including The New Port Business Park in Newbridge Road, which will offer high quality office and industrial space providing up to 95 jobs for the area andwill cost in the region of £5m.

tonymcdonough