Business parks welcome new tax incentives

The Oxford Times: Chancellor George Osborne Chancellor George Osborne

THE heads of Milton Park and Harwell Oxford science centres welcomed the Budget last week as a boost to businesses.

Chancellor George Osborne announced tax incentives for businesses would be kept for three more years.

Businesses moving into Harwell Oxford and Milton Park can benefit from five years of business rates discounts.

That has now been extended until March 2018.

So far, 36 businesses, including Harwell Oxford-based synthetic industrial diamond company Element 6, have benefited from the discount.

Director at the Harwell Oxford Campus Angus Horner said: “Businesses already at Harwell Oxford, plus those soon to arrive will welcome this news.”

Head of leasing and development at Milton Park, Philip Campbell, said: “This is really great news for growing businesses wanting new accommodation. Osborne’s statement effectively means that the Enterprise Zone rates discounts now have the potential to last until 2023.”

Both sites are part of enterprise zone Science Vale Oxford.

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