Government policies in deindustrialised places Flashcards
What is an enterprise zone?
An area where policies are used to encourage economic growth and development
Benefits of enterprise zones
Business rate and financial benefits
Simplified planning rules
Infrastructure for business
There are 48 enterprise zones in England. Including Birmingham and Manchester
what are Local enterprise partnerships
Voluntary partnerships between local authorities and businesses to promote economic growth and job creation in local areas
Local enterprise partnership facts
38 LEP’s in England
supported 196,000 businesses generating 180,600 jobs
What are the forms of funding for retraining?
Bursaries from organisations
Professional and career development loans - the government pays the interest while a person studies
Advanced learner loans covering the costs of a training course
What is the EU growth programme
A project to provide investment for innovation, businesses, skills and employment. There are three types of funding.
What are the 3 types of funding from the EU growth programme
European Social fund - aims to improve employment opportunities promote social inclusion and invest in skills
European Regional Development Fund - supports research and innovation, small to medium sized enterprises and development of a low-carbon economy
European Agricultural Fund for Rural Development - Helps rural businesses grow ad expand
What is FDI (Foreign direct investment)
Cross border investment made by residents and businesses from one country to another with the aim to establish a lasting interest in the country receiving investment MOSTLY TAKES THE FORM OF LARGE MNCS
FDI Facts
2,265 projects in 2016/17 creating 75,000 jobs (UK)
Enterprise zones help encourage FDI
MNCs aim to gain some benefit from their investment such as access to a market avoiding trade barriers and lower labour costs.
Not all FDI is in deindustrialised areas
Many new jobs are in the tertiary or quaternary sector
