Manufacturers in the Midlands are gearing up to capitalise on the region's new Enterprise Zones, to ensure they make the most of any growth opportunities they might bring, according to sector experts at PwC.

While relocating whole businesses is unlikely to be feasible, some small and medium-sized manufacturers are already considering what steps they may need to take to expand their operations by locating part of their manufacturing arms or R&D facilities within the region's Enterprise Zones.

David Martin, manufacturing sector expert at PwC in the Midlands, said:

"Manufacturers in the region are optimistic that the Enterprise Zones will act as springboards for growth and the incentives on offer in terms of simplified planning rules, tax breaks and super-fast broadband are certainly attractive. Local businesses also recognise that Enterprise Zones provide a compelling, commercial environment that could help them to draw down additional funding and attract inward investment.

"Three of the four Enterprise Zones now confirmed in the West Midlands region have a manufacturing sector focus. Notably the i54 site in the Black Country, which has today been confirmed by Jaguar Land Rover as the site for a new £400 m production plant, is set to be transformed into an advanced engineering hub.

"It is great to see that national and international manufacturers want to be part of these Enterprise Zones. They recognise that locating in these areas will enable them to leverage the knowledge and expertise of regional specialists which will then drive growth and provide an economic boost for the region."

Businesses within the Zones will be exempted from paying business rates for five years, saving them up to £275,000 each. There is an opportunity for Local Enterprise Partnerships (LEPs) to invest this money back into the region by investing in infrastructure and innovation, as well as providing additional support to help companies drive sales by increasing export activity.

David Martin, manufacturing expert at PwC in the Midlands, said:

"The Enterprise Zones offer an incredible head start for growing businesses in the Midlands and can spark business growth across the region and the UK.  Their success could enable manufacturers in the Midlands to lead the country's economic regeneration and recovery."