THE latest batch of cash being injected into Whitehill and Bordon has been described as evidence of “unprecedented investment” as the local Enterprise Zone is officially launched.

The Enterprise M3 Local Enterprise Partnership said it was excited to announce a £10million investment to speed up development in the Government-backed EZ3 Enterprise Zone.

The EZ3 Zone is also known as the London and South Innovation Valley - a digitally-focused Enterprise Zone comprised of three sites - TechForest in Bordon (at the former Louisburg Barracks), Basing View in Basingstoke and Longcross Park near Chertsey.

Chairman of Enterprise M3 Geoff French said: “Achieving an Enterprise Zone status is a significant step forward for business growth in our area.

“With proximity to Heathrow, London and other key transport hubs, EZ3 will strengthen our capacity to attract more businesses, create jobs and build on our sectoral strength in digital and sustainable technologies.”

He said the £10m investment will be used for on-site infrastructure, including new-build property, business support, skills and technology.

“We will also ensure that eligible businesses have access to the 5G Innovation Centre (at the University of Surrey) across all three sites, where they can explore the commercial viability of 5G technology,” he said.

But what does Enterprise Zone status actually mean?

One of the most significant benefits is that companies locating in any of the three EZ3 sites before March 31, 2022, could be eligible for an 100-per-cent business-rate discount - up to £275,000 over a five-year period.

The Enterprise Zone is also offering other incentives to firms, including: business-support services; transport links to London, Heathrow and Gatwick airports, Southampton Port, and the M3 and M25; and access to “a highly skilled and talented workforce”.

It also offers “exciting potential for research-and-development collaboration” with world-class bodies - The Pirbright Institute, the 5G Innovation Centre and The Institute for Cyber Security Innovation at Royal Holloway University of London.

There is also support to help businesses access the Government research-and-development tax-credit scheme, and access to global markets through the Department for International Trade.

“This is good news for business and good news for Whitehill and Bordon,” Conservative town, district and county councillor Adam Carew said.

“Anything that can be done in terms of economic investment to encourage businesses to locate here is extremely welcome.

“Whitehill and Bordon is not only uniquely placed by its strategic location to A3 with easy access to Guildford, Portsmouth and London, it sits strategically linking the Solent area and Farnborough growth areas.

“I have spoken before about the embryonic idea of ‘Silicon Heath’, focusing on IT, sustainable and new smart technologies. The roll-out of 5G will be a great inducement in itself but now it’s been taken a stage further with the exciting concept of TechForest as a green gateway to the town.

“Coupled with our new (building) skills centre, a new enterprise centre, business support, new town centre, educational and leisure facilities and countryside feel, this will make Whitehill and Bordon a very attractive place for businesses and their employees to locate to.

“The potential for research-and-development support, access to world markets and reduction in business rates should make for a very attractive package for any business wishing to locate here. This announcement from the Enterprise M3 Local Enterprise Partnership is very welcome and demonstrates once again that the regeneration of our town has financial backing from the Government as well as unprecedented local-authority investment.”

The announcement was made at a launch event at Belvedere House, in Basingstoke, where attendees also heard about the significance of 5G technology.

It is hoped that the EZ3 Enterprise Zone will create more than 10,000 jobs and attract more than 130 new businesses.