The Worcestershire Local Enterprise Partnership (LEP) has recently submitted proposals to the Government which set out plans to turn South Kidderminster Business Park into a local Enterprise Zone.
The zones, a new scheme announced in the Government's March Budget, will be centres for new businesses, jobs, low taxes and super fast broadband. Current restrictions on economic growth will also be removed. If Kidderminster's submission is successful, more than 4,000 jobs could be created in the area.
The status will also enable any growth in business rates to be kept by the Worcestershire LEP and invested locally.
Mark Garnier, MP for Wyre Forest, described the news as a "terrific opportunity" for Wyre Forest.
He said:
"I am thrilled that the former sugar beet site has been chosen by the LEP board. The town has such huge potential for growth and will flourish with that extra push from the government and our local communities working together. As MP for Wyre Forest, one of my main priorities is to bring new infrastructure to this area and Enterprise Zone status will do just that. With simplified planning rules, tax breaks and super fast broadband for businesses, the potential zone will provide a significant boost to the local economy. This is a terrific opportunity for Wyre Forest and I am looking forward to offering my support in every way I can."