4.8A Business environments

• science parks = industrial and business parks focussed on the quaternary industry and usually involve at least one university partner e.g Cambridge
• Science park encouraging investment:

  • encourages innovation and knowledge-based businesses
  • has operational links with universities
  • can develop specific interactions with a particular centre of knowledge creation
• Newquay Aerohub = one of the UK's largest designated Enterprise Zones
• • Local governments compete to create attractive business environments, such as science and technology parks, which attract:
  • Domestic investors from within the UK
  • Foreign investors from overseas
  • Highly skilled workers
• Enterprise zone incentives:

  • Discount on business rates for premises
  • Tax relief
  • More relaxed planning regulations
  • Superfast broadband
  • Government support for start-up costs
• Science parks are intended to:

  • Support regeneration in economically depressed regions and cities of the UK by attracting new businesses and start-ups, which promotes economic growth 
  • Encourage the start-up and development of innovation-led, high-growth knowledge-based business
  • Provide an environment where international businesses can develop links with universities and higher education institutes
  • Raise the value of the business located there, as well as the income of people working there