Published July 6, 2018 at 11:30
Businesses with up to 250 employees could receive a discount of up to 100 per cent on their annual rates to help create more jobs in the borough
Rossendale Council has introduced a new three-year relief scheme for National Non-Domestic Rates – what people know as businesses rates – for small and medium-sized enterprises (SMEs).
SMEs in the borough could receive a discount of up to 50 per cent in the first year if they:
- expand their current site
- relocate into or expand a derelict building
- relocate to a new employment site in Rossendale
- expand or relocate into a semi-derelict building which has been unused for business purposes for at least a year
In addition, they could also receive an additional 5 per cent rate relief for every new job they create which pays at least the national Living Wage.
For example, a Rossendale company building a new greenfield industrial unit could receive a 50 per cent discount and a further 25 per cent if they committed to creating five jobs within the first year.
Reduced discounts will also be available in years two and three subject to conditions such as staying in the same premises and meeting job creation targets.
The awards are discretionary and the application form is available by sending an email request to email@example.com.
Rossendale Council Leader Alyson Barnes said:
This scheme is great news for our small and medium-sized businesses which we want to grow and thrive in the borough.
But as well as supporting existing businesses, we want Rossendale to be an attractive place for new businesses to set up and invest in. This scheme will also encourage more local job opportunities for people and improve the environment by bringing derelict buildings back into use.
Businesses are vital contributors to Rossendale’s economy and this is just one of the ways in which the council can support them.
We are also launching a programme of events and workshops in the coming months to promote, benefit and celebrate Rossendale-based businesses. This includes the Invest in Rossendale event on September 6 where the guest speaker will be Dragons’ Den star Hilary Devey.