York councillors will be asked to consider an updated business rate discount policy which sets new clear ambitions and aligns with emerging, more joined-up approach with other Leeds City Region authorities, at a meeting on the January 7.
The revised policy is more strategic in its approach, with three key ambitions at its heart: to support young business in the city’s key growth sectors such as business software innovation and bio-medical; to bring empty listed buildings back into use and to support significant business relocations in York.
“Key to this revised policy is the principle that each authority within the Leeds City Region will seek to adopt a more joined-up approach to their rates discount policies, which will help ensure that those businesses who want to make an application will find the process clear and consistent.”
Coun Dafydd Williams, cabinet member for finance, performance & customer services, said:
“Key to this revised policy is the principle that each authority within the Leeds City Region will adopt a joined-up approach, ensuring those businesses who want to make an application will find the process clear and consistent.”
“The localisation of business rates from 1st April 2013 and this policy will enable us to support local economic growth and help to generate more income which in turn will allow us to support more businesses to thrive, grow and employ in York.”
Funding for the award of discounts will be met from any surpluses generated through business rate growth.
This will be considered as part of the budget process each February.
The extent to which any discount can be provided in any one year outside of the qualifying criteria set out in the revised policy, is guided by the budget available and European State Aid Rules.