Investment zones: Cabinet decides not to submit an expression of interest

Following its recent announcement of plans to create Investment Zones around the country, the Government invited Mayoral Combined Authorities (MCA) and Upper Tier Local Authorities (UTLA) in England to submit an expression of interest in introducing  an Investment Zone in their area. 

In response, Shropshire Council’s Cabinet has agreed that the council will not be submitting an expression of interest for an investment zone in this round.

Dean Carroll, Shropshire Council’s Cabinet member for growth and regeneration, said:-

“Whilst we recognise the value that these Investment Zones will have in some parts of the country, we have always been clear that both locally and nationally, a ‘one size fits all’ policy will not work. Given the local circumstances specific to Shropshire we do not believe that the current iteration of Investment Zones would be a good fit for Shropshire.

“We have our own Economic Growth Strategy, backed up by the emerging Local Plan which has been developed alongside the aspirations of the people of Shropshire. We believe that now is the right time to focus on this locally-led approach, but we will monitor the national proposals moving forwards so that, should they develop into something that would be the right fit for Shropshire and sit comfortably alongside our local plans, then we will be in a position to take advantage of that opportunity in the future.”