development area

(in Britain) an area suffering from high unemployment and economic depression, because of the decline of its main industries, that is given government help to establish new industries

development area (Brit.)

An area in which the government encourages new and esp. diversified industry in order to promote industrial stability.

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.

单词	development area
释义	development area development area n (Economics) (in Britain) an area suffering from high unemployment and economic depression, because of the decline of its main industries, that is given government help to establish new industries Translations development area development area (in Britain) an area suffering from high unemployment and economic depression, because of the decline of its main industries, that is given government help to establish new industries development area (Brit.) An area in which the government encourages new and esp. diversified industry in order to promote industrial stability. development area 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.
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