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Regenerating Places

Local government incentives and inward investment

  • 3 things to know
  • Paper 2

Overview

Local government investment in infrastructure, business rate relief and inward investment, Local Enterprise Partnerships, enterprise zone incentives such as simplified planning, business rate discounts and enhanced capital allowances, planning decisions, land designation, development permissions and conditions, and inward investment from TNCs and national regeneration funds.

What you need to know

Answer each one before you reveal it.

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Evaluation

What were Local Enterprise Partnerships (LEPs)?

Key term

How can local government directly invest in infrastructure to support regeneration?

Key term

How do simplified planning regulations function as an enterprise zone incentive?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    How can local government directly invest in infrastructure to support regeneration?

    Model answer

    Local government can fund improvements to transport links, utilities, public spaces, and other physical infrastructure to make areas more attractive for economic activity and development.

  2. 2

    What is business rate relief and how does it support regeneration?

    Model answer

    Business rate relief is a reduction in the local taxes businesses pay on their premises, used by local government to lower operating costs and attract businesses to regenerating areas.

  3. 3

    Define inward investment in the context of place regeneration.

    Model answer

    Inward investment refers to external capital flowing into an area from sources outside the local economy, including foreign direct investment and national government funding.

  4. 4

    What were Local Enterprise Partnerships (LEPs)?

    Model answer

    LEPs were voluntary partnerships between local authorities and businesses that set local economic priorities and directed regeneration funding; their functions passed to local and combined authorities in 2024.

  5. 5

    What are enterprise zones in the context of local government regeneration policy?

    Model answer

    Enterprise zones are designated areas where businesses receive special incentives such as tax breaks and simplified planning to encourage economic activity and attract investment.

  6. 6

    How do simplified planning regulations function as an enterprise zone incentive?

    Model answer

    Simplified planning regulations reduce bureaucratic requirements and speed up the approval process for businesses wanting to build or expand within enterprise zones.

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