The Boots campus in Nottingham will be the site of the first of twenty-one new Enterprise Zones announced in Wednesday’s Budget.
The zones will be created with simplified planning rules, super-fast broadband and tax breaks for businesses to encourage businesses and job creation.
Four zones were announced today, in Nottingham, Liverpool and Manchester. Boris Johnson has said London's Zone will be in the Royal Docks.
The announcement came as David Cameron and Nick Clegg visited the new Nottingham Enterprise Zone at the Boots campus in Nottingham to hear the local enterprise partnership's proposals to boost the local economy.
The Government has launched a competition for local enterprise partnerships to bid to host the next ten Enterprise Zones which will be announced in July.
Local Government Secretary Eric Pickles said:
"Growth is this Government's number one priority and a new generation of Enterprise Zones are central to our strategy. Local enterprise partnerships can use these zones as a springboard for private sector growth and wider regeneration. It's great news that the locations for Enterprise Zones can be announced in London, Liverpool, Manchester and Nottingham today.
And he added, "Enterprise Zones are unashamedly pro-growth, with lower taxes and reduced regulations to attract business, but they are also unashamedly localist, keeping power and profits within the local area so communities benefit."