Great Yarmouth and Lowestoft Enterprise Zone has announced that Diesel Power Solutions are to become their latest tenant. The company supplies and services engines for East Anglia’s offshore energy sector, as well as a wide range of local operators.
The company has recently undergone rapid expansion, and the Enterprise Zone’s incentives package made it the perfect place to grow their business.
Managing Director Jae Skipper commented:
“We have been on a smaller site in Lowestoft for some years, which we rented, but we have grown so much that we needed to find a larger premises. We also decided to buy a new site instead of renting.
“I was looking around the Enterprise Zone one weekend and saw that some units were being built on Beacon Park. I made enquiries and it went from there. We have now moved from our old 2,000 sq ft site to a 4,000 sq ft site, so we have doubled the size of our operation and now have plenty of room to grow even further.”
The reduced business rates offered by the Enterprise Zone were a major factor Diesel Power Solution’s decision to move.
“One of the main advantages of being here in the Enterprise Zone is the reduction in business rates,” said Skipper.
“We will save £50k over the next five years by being here, which is a great deal of money. The move was a very smart investment for us, and we are delighted with our new home.”
The Diesel Power Solutions news is further evidence that the Enterprise Zone is quickly becoming a major hub for the energy industry. Over £50 billion of expenditure is anticipated over the next 10 years in the sector, on or close to the Norfolk and Suffolk coast, and Great Yarmouth has been recently chosen as the preferred operations base for the cutting-edge Dudgeon offshore wind farm, due to be operational in late 2014.