New businesses which decide to set up in Mendip could be eligible for up to 100% business rate relief for three years.
The new policy, which has been given the green light by the council’s Cabinet, aims to encourage new businesses to develop and grow in Mendip, boosting the local economy.
Cllr Tom Killen, Deputy Leader of Mendip District Council, said: “Mendip is a fantastic place to live and work and we hope that by offering new businesses this impressive level of rate relief that they will choose Mendip as their new location or as a suitable place for their business to expand.
“There is much to be positive about with Mendip’s economy, but the council is well aware of the challenges that continue to face some local businesses and their staff, mirroring the economic conditions nationally.
Businesses investing in the designated Bath & West Enterprise Area will be eligible to apply for 100% business rate relief for three years, subject to a cap of £55,000 per annum
Small medium enterprise (SME) businesses will only be eligible to apply. To find out more about the scheme and the eligibility criteria contact firstname.lastname@example.org