EXCLUSIVE : Coleraine to Lose Its Enterprise Zone Status in Favour of Province-Wide Investment Scheme

Coleraine, once distinguished as Northern Ireland's sole Enterprise Zone, is set to lose this unique status.

Coleraine was initially designated as an Enterprise Zone in 2016, a move hailed as a significant boost for economic development by the UK Treasury. This status offered enticing tax incentives aimed at spurring private sector investment in the Borough.

The decision to grant Coleraine the Enterprise Zone status was seen as a form of compensation for the significant job losses experienced with the downsizing of the Driver and Vehicle Agency operations.

However, as of this weekend (March 16), this designation is slated to expire, and the Treasury has confirmed that it will not be extended.

This change comes in the wake of an agreement between the Democratic Unionist Party (DUP) and the UK government, which has led to the restoration of Stormont. Under this new deal, an 'Enhanced Investment Zone' is to be established, covering all of Northern Ireland.