The Temple Quarter Enterprise Zone is a 70 hectare site was officially designated an Enterprise Zone by the Chancellor in April 2012, and which was then expanded to cover an additional 30 hectares in April 2017. Temple Quarter has several key sites, and a Spatial Framework has been created to illustrate how it might develop in future.
What is an enterprise zone?
Enterprise zones have been set up by the government to drive local growth. They offer a range of incentives to businesses, such as business rates relief, simplified planning and superfast broadband. They also offer benefits to the communities surrounding them by unlocking key development sites, consolidating infrastructure, attracting business and creating jobs. All business rates growth generated by the enterprise zones is kept by the relevant local enterprise partnership and local authorities for 25 years, allowing them to reinvest in local economic growth. You can find out more about enterprise zones online.
Bristol is a vibrant, dynamic and historically inventive city, and Bristol Temple Quarter will add significantly to its talent pool, cultural landscape and economic growth. Alongside incentives for business growth and jobs creation, the zone will benefit from significant investment in infrastructure, including £21 million to improve the vehicle, cycling and pedestrian access in the area; £11 million to provide superfast broadband for companies and £200 million for the citywide MetroBus scheme.
The Bristol Temple Quarter aims to attract 4,000 jobs by 2017 and around 22,000 over the 25 year lifespan of the project. In 2015, the 2,000 jobs mark was reached and over 300 businesses are already in the zone, including prestigious Top 50 law firm Burges Salmon, IBM, Osborne Clarke, the Real Adventure Company and Kevin McCloud’s HAB Housing.