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The Greater Cambridge Greater Peterborough Local Enterprise Partnership (LEP) has backed a proposal for a business-led development on the former Alconbury Airfield as its contender for the Government’s competition for Enterprise Zones.

Peterborough Railway Corridor, a proposal which would have seen 11,000 jobs created in the city centre, was a strong candidate which came second out of five bids in the regional heat.

If successful in the national competition, businesses located in the Alconbury Enterprise Zone would benefit from reduced business rates, superfast broadband, and simplified planning rules.

Although disappointing for the unsuccessful bids, Peterborough, and indeed the whole LEP area, will still profit if Alconbury is selected as one of Government’s Enterprise Zones.

Neil Darwin from Opportunity Peterborough said: “Revenue raised through business rates from the Enterprise Zone will be shared across the LEP, so whilst Alconbury will see new jobs created, surrounding areas will receive cash funding to spend locally to attract further jobs.

“Peterborough’s Railway Corridor remains a fantastic development opportunity with great potential for huge job creation; we’ll continue to find ways to secure this regeneration which the city centre needs.”

The LEP must submit its bid to Government by 30 June and a decision is expected by the end of July.