A NEWLY-created enterprise zone will officially launch today marking the start of an exciting new era for Basingstoke’s town’s central business district.

The EZ³, Enterprise M3’s multi-site Enterprise Zone will be launched in Belvedere House, Basing View.

The new business hub will link Belvedere House with two other major regeneration sites, Longcross Park near Chertsey, and Whitehill and Bordon’s Louisburg Barracks, to enjoy a host of advantages for the whole region as part of EZ³.

The partnership is expected to attract more inward investment and accelerate high value business activities to generate local jobs and stimulate a vibrant economy.

One company already expected to benefit from enterprise zone status at Basing View is the AA, which is relocating its headquarters from Fanum House in Basingstoke to a multi-million pound, state-of-the-art office building, which will be completed in 2018.

Enterprise Zone status will give the AA - and all new compliant businesses that expand within or locate to Basing View - business rates relief up to £275,000 over a five-year period.

There will also be unique access to ground-breaking 5G technology through the 5G emulator based on Basing View, offering businesses the opportunity to test the commercial viability of 5G technology.

Successfully achieving enterprise zone status across the three sites was made possible by Enterprise M3 LEP, who worked in close partnership with Basingstoke and Deane Borough Council, East Hampshire District Council, Runnymede Borough Council, Hampshire County Council, Surrey County Council, Crest Nicholson, Aviva and Homes and Community Agency.

Cabinet Member for property and development at the borough council, Cllr John Izett said: “Securing Enterprise Zone status at Basing View is a big win for the borough and for those growing companies and new ones who will benefit financially from potential business rates’ savings over five years.

“Working with the Enterprise M3 LEP and two other Enterprise Zone partners, we will be able to share in the growth in business rates for the next 25 years, guaranteed by government.”