The £200 million development aimed at attracting new hi-tech businesses to Derby has been named by the Chancellor of the Exchequer, George Osborne, as one of eight existing Enterprise Zones to be extended.
Infinity Park Derby is a 100-acre development near Bondholder Rolls-Royce's civil aerospace site and aims to attract businesses with its 1.5 million square feet of offices, warehousing and ancillary facilities.
Enterprise Zone status means businesses benefit from tax breaks and business rates discounts. This extension includes enhanced capital allowances, which means tax relief on equipment like plant and machinery.
This further increases the desirability of the park - which aims to create 8,000 jobs - as a location for companies to relocate, expand or start-up in.
Deputy Leader at Derby City Council, Martin Rawson, commented: "The development is rapidly becoming the most attractive place within the East Midlands to locate a business. The addition of enhanced capital allowances further reinforces this position."
Peter Gadsby, Chairman of Bondholder Cedar House Investments said: "I'm pleased that the Chancellor has announced the extension to the Infinity Park Derby Enterprise Zone. It is recognition for an outstanding strategic regional employment site where we hope to attract occupiers from throughout the UK and overseas."
Bondholder Salloway Property Consultants and JLL are both marketing the site. Managing Director of Salloway Property Consultants Steve Salloway said: "I expect Infinity Park Derby to become one of the East Midlands' most fertile breeding grounds for enterprise and innovation.
Sitting alongside a world-renowned brand as Rolls-Royce - and on the doorstep of multi-national businesses such as Bombardier, Toyota and JCB - the development project will be attractive to 'supply-chain' companies in the advanced manufacturing sector, not only indigenous and UK-wide organisations but from overseas too."