Purpose

Dorset
Innovation Park (DIP) is a 56-hectare, Dorset Council owned site approximately
one mile west of Wool, South Dorset. The site was awarded Enterprise Zone (EZ)
status by the government in 2017, a designation which will last for 25 years
until 2042. The key benefits of EZ status include the ability for the Council
to retain 100% of business rate growth.

 

The Innovation Park has
considerable ability to make a significant contribution to the South Dorset
economy through the provision of highly skilled and paid jobs and private
sector investment. 

 

The Council currently
provides light industrial and office accommodation for rent to businesses and
plots of land available to purchase for businesses to develop their own
facilities. A sizeable proportion of the site, approx. 10 hectares, is still
undeveloped.

 

Norco
Ltd are an existing tenant on site within a substantial office and industrial
building.  Norco are part of the Dorset
defence industrial base and require additional land to accommodate an increase
in their production capacity.

 

The
council has been in negotiations over several months with Norco regarding the
purchase of additional land at the Innovation Park to facilitate this increase
in capacity.

 

Norco
require a 3 acre plot to accommodate their expansion plans.  This will lead to the creation of an
additional 60 jobs in addition to safeguarding the existing 30 jobs Norco
currently employ on site.  Norco will be
making a significant multi million pound investment in their new facility on
the Innovation Park.

Content

To agree the sale
of circa three acres of land at the Dorset Innovation Park to Norco Ltd subject
to planning permission and agreement of sale contract documents.

Reasons for the decision

Norco were part of
the Dorset defence industrial base and required additional land to accommodate
an increase in their production capacity.

 

Norco required a 3
acre plot to accommodate their expansion plans. 
This would lead to the creation of an additional 60 jobs in addition to
safeguarding the existing 30 jobs Norco currently employed on site.  Norco would be making a significant multi
million pound investment in their new facility on the Innovation Park.

Alternative options considered

Alternative options considered and rejected:

 

To not agree the
sale of land at the Innovation Park to Norco Ltd. 

This option was
rejected as it would not facilitate the creation of new jobs, private sector
investment or growth of the Innovation Park business rate income.