Businesses in the east of England have launched an enterprise zone in an attempt to attract more firms from the energy industry to its shores. The new programme has been created to highlight what the region can offer the oil, gas, wind and nuclear energy industries.
The East of England Energy Zone (EEEGR) hopes to attract £31 billion of investment over the next eight years, creating opportunities for businesses and jobs for the region.
James Gray, Inward Investment Director at EEEGR said: “This is a time of unprecedented growth in offshore wind yet the ongoing investment in all-energy in the North Sea and around the world still dominates.”
Great Yarmouth and Lowestoft are deep-water ports in the east of England where £50 billion of capital expenditure will be invested in offshore wind, nuclear, gas storage and platform decommissioning over the next 20 years. Those at the EEEGR think the area could become a hub for future energy projects.
Mr Gray added: “Great Yarmouth and Lowestoft were recently granted Enterprise Zone status – there is a significant concentration of energy sector infrastructure and activity within a 70km radius of these two key ports.”