Business Rate Policy Targeted To Support Growth & Investment In York
8:47am 7th January 2014
City of York Council's Cabinet will be asked to consider an updated business rate discount policy at a meeting today (7 January 2014).
The revised policy is more strategic in its approach, say City of York Council, with three key ambitions at its heart: to support young business in the city’s key growth sectors such as business software innovation and bio-medical; to bring empty listed buildings back into use and to support significant business relocations in York.
Cllr Alexander, leader of City of York Council said: “Key to this revised policy is the principle that each authority within the Leeds City Region will seek to adopt a more joined-up approach to their rates discount policies, which will help ensure that those businesses who want to make an application will find the process clear and consistent.”
Cllr Dafydd Williams, Cabinet member for Finance, Performance & Customer Services said: “Key to this revised policy is the principle that each authority within the Leeds City Region will adopt a joined-up approach, ensuring those businesses who want to make an application will find the process clear and consistent.”
“The localisation of business rates from 1st April 2013 and this policy will enable us to support local economic growth and help to generate more income which in turn will allow us to support more businesses to thrive, grow and employ in York.”
City of York Council say funding for the award of discounts will be met from any surpluses generated through business rate growth. They add that this will be considered as part of the budget process each February. The extent to which any discount can be provided in any one year outside of the qualifying criteria set out in the revised policy, is guided by the budget available and European State Aid Rules, say City of York Council.
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