A new enterprise zone which features part of Hemel Hempstead could bring significant benefits to the area.
On April 1 the new Enviro-Tech enterprise zone in Hertfordshire was launched and went live.
It’s expected to bring thousands of jobs and hundreds of millions of pounds into the local economy, with the aim of attracting new environmental and technological businesses to the area.
Dacorum is mainly represented in the new zone by the area around Maylands Business Park, and it will also see traffic infrastructure improved greatly in this area.
The new zones also support businesses, helping budding entrepreneurs to start up and supporting established companies to grow.
They offer business rates discounts and additional tax breaks, backed by a simplified local planning process.
Mark Gaynor, corporate director for housing and regeneration at Dacorum Borough Council, told the Gazette about the impact it will have on Hemel residents.
He said: “One of the key things for Dacorum is that with the retention and stimulation of businesses in the Maylands area, there will be funds available to improve the road infrastructure around the site near M1 junction 8 and Breakspear Way.
“We know the road traffic issues there are quite bad.
“It will be extremely hard to quantify everything, but we anticipate there would be between 7-9,000 jobs being created in the zone.”
The enterprise zone will also be subject to lots of planning applications for developments, but Mr Gaynor believes it will be ‘a few years’ before residents see noticeable differences to the Hemel skyline.
Enviro-Tech in Herts was one of four enterprise zones in the country to go live on April 1.
Local growth minister Andrew Percy said: “Enterprise zones will help to attract new investment , create the right environment for business growth and bring new jobs.”