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Enterprise zones

These were established in 1980 in the UK, with the aim of stimulating economic activity in selected areas, particularly within inner city wastelands where regeneration was urgently needed.

Industry moving into these zones or new enterprises setting up therein can, during their first ten years, claim certain advantages. These include freedom from development land tax, simplification of planning procedures and exemption from both industrial training levies and local authority commercial or industrial rates. An additional bonus lies in the fact that capital allowances of 100 per cent could be claimed virtually right away.

Reference: The Penguin Business Dictionary, 3rd edt.