development area

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development area

see REGIONAL POLICY.

development area

an area of the country formerly designated under UK REGIONAL POLICY (for example, the Northeast and South Wales) as qualifying for financial and other assistance in order to promote industrial regeneration. Development Areas reconfigured (in 2002) as ‘Tier 1 ASSISTED AREAS' under a joint UK/EUROPEAN UNION regional policy programme. Development/Tier 1 areas are characterized by UNEMPLOYMENT rates that are significantly higher, and levels of INCOME PER HEAD that are significantly lower, than the national average. To remedy this situation, the usual practice is to encourage the establishment of new firms, the expansion of existing firms and the establishment of new industries by offering a variety of investment incentives: investment grants and allowances, tax write-offs, rent- and rate-free (or reduced) factories, etc.

In the UK, firms investing in the assisted areas are offered REGIONAL SELECTIVE ASSISTANCE, which is given on a discretionary basis to cover capital and training costs for projects that meet specified job-creation criteria.

References in periodicals archive ?
According to the OYSIEC chairman, 'kindly recall that, I invited all of you here on Thursday January 19, 2017 after which we rolled out our timetable to conduct local government elections in the 33 local council areas and 35 Local Council Development Areas.
The Tanjung Enim initial target development area only represents 1.
Per the restructured agreement, Armstrong has acquired a 15% working interest (to add to its 30%) in the initial development area near the Colville River Delta where the majority of exploratory and appraisal drilling activities have been carried out.
3 km, dual four lanes, Lusail highway will serve the new development areas in the north of Doha.
The decline recorded in reported in investment in regional development areas is mainly attributed to the governorate of Jendouba whose reported investments reached 39.
Over the past decade the 460-acre development area has helped attract millions of pounds worth of development and created hundreds of jobs thanks to the partnership between the council and the WDA.
Research and development institutions, educational institutes and consultants will represent the testing and research and development areas of the Asian Indian rubber industry.
BOX: North Valencia annexation development areas (see text)
270 Technology Park presents a solid investment opportunity in high-quality flex buildings ideally located with excellent visibility just south of the City of Frederick along I-270 in one of Frederick's fast-growing development areas.
Services for various programs included in this proposal will include but not limited to the following development areas specific plans within the City and within the CITY%S influence area as follows: Plan C Development Area South MacArthur Development Area Infill Development Area 1-205 Specific Plan North East Industrial Area Phase 1 and Phase II South Industrial Specific Plan Fee analysis for Citywide Infrastructure Master Plans Cordes Ranch Development Area Tracy Hills Development Area Ellis Development Area etc.
The value of investments reported in regional development areas went up 25% in the first quarter of 2012, from 376.
In addition, Qusous briefed media personnel on the accomplishments and economic impacts of both Mafraq and Irbid development areas and highlighted future aspirations and potentials of such vital development projects.

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