An industrial park , also known as industrial estate or trading estate , is an area zoned and planned for the purpose of industrial development . An industrial park can be thought of as a more heavyweight version of a business park or office park, which has offices and light industry , rather than heavy industry . Industrial parks are notable for being relatively simple to build; they often feature speedily erected single-space steel sheds, occasionally in bright colours.
19-605: Bridgend Industrial Estate is a large industrial park complex in Bridgend , Wales . It is made up of three adjoining Industrial Estates, being Waterton, Bridgend, and North Road and incorporating a retail park in Waterton. It was built on the site of the former ROF Bridgend , on which South Wales Police Headquarters also stands. Bridgend Industrial Estate is inhabited (amongst others) by such companies as Ford , though other large companies such as Sony have recently moved out of
38-543: A North American industrial park is a water tower , which helps to hold enough water to meet the park's demands and for firefighting purposes, and also advertises the industrial park and locality, as usually the community's name and logo are painted onto its surface. This idea of setting land aside through this type of zoning has several purposes: Benchmarking helps to rank industrial parks based on various criteria, including performance, investment, environmental protection, social responsibility, and governance (ESG). For
57-581: A "reversal of fortunes" in China's dealings with foreigners since the century of humiliation . Researcher Zongyuan Zoe Liu writes that "[t]he success of these cities as 'red' treaty ports represented another step in China's overall reform and opening-up plan while legitimizing the leadership of the CPC over the Chinese state and people." Numerous African countries have set up SEZs in connection with China, including over
76-458: A company gains by being in a special economic zone may mean that it can produce and trade goods at a lower price, aimed at being globally competitive. In some countries, the zones have been criticized for being little more than labor camps , with workers denied fundamental labor rights . The definition of an SEZ is determined individually by each country. According to the World Bank in 2008,
95-537: A nearby highway, and with only the basic utilities and roadways. Public transportation options may be limited or non-existent. Industrial parks in developing countries such as Pakistan face a myriad of additional difficulties. This includes the availability of a skilled workforce and the clustering together of radically different industrial sectors (pharmaceuticals and heavy engineering, for example), which often leads to unfavorable outcomes for quality centered industries. An industrial park specializing in biotechnology
114-501: A special zone for many industries (mixed OIZs). Not every industry is allowed to operate in organized industrial zones. Special economic zone A special economic zone ( SEZ ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in
133-403: Is called a biotechnology industrial park. It may also be known as a bio-industrial park or eco-industrial cluster. Flatted factories exist in cities like Singapore and Hong Kong , where land is scarce. These are typically similar to flats , but house individual industries instead. Flatted factories have cargo lifts and roads that serve each level, providing access to each factory lot. India
152-608: The Special Economic Zones (SEZs) Policy was announced in April 2000. A special economic zone (SEZ) is a geographical region that has economic laws that are more liberal than a country's domestic economic laws. India has specific laws for its SEZs.The category 'SEZ' covers a broad range of more specific zone types, including free-trade zones (FTZ), export processing zones (EPZ), free zones (FZ), industrial estates (IE), free ports , urban enterprise zones and others. Usually,
171-609: The edges of, or outside, the main residential area of a city , and are normally provided with good transportation access, including road and rail . One such example is the large number of industrial estates located along the River Thames in the Thames Gateway area of London . Industrial parks are usually located close to transport facilities, especially where more than one transport modes coincide, including highways , railroads , airports and ports . Another common feature of
190-478: The estate. It is also occupied by a number of smaller firms. On 19 January 2024 at around 20:00 GMT , a large fire broke out in the area of the industrial estate at Formaction Limited. 51°29′59″N 3°33′10″W / 51.49972°N 3.55278°W / 51.49972; -3.55278 This Bridgend County Borough location article is a stub . You can help Misplaced Pages by expanding it . Industrial park Industrial parks are usually located on
209-538: The goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a Multi National Corporation (MNC) . Notable SEZs in India An organized industrial zone ( Turkish : Organize Sanayi Bölgesi ) is a kind of special economic zone in Turkey . These zones were legislated for between 2000 and 2007, and may bring together related (OIZs for function) industries or just be
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#1733086169999228-429: The manufacturing companies located in industrial parks, the performance of industrial park operators is important, as the costs for infrastructure and services charged by the industrial park operator is a serious factor for the competitiveness of the manufacturing companies. Different industrial parks fulfill these criteria to differing degrees. Many small communities have established industrial parks with only access to
247-400: The modern-day special economic zone typically includes a "geographically limited area, usually physically secured (fenced-in); single management or administration; eligibility for benefits based upon physical location within the zone; separate customs area (duty-free benefits) and streamlined procedures." The United States has long applied special economic rules to its outlying territories for
266-631: The opening of China in 1979 by Deng Xiaoping was the Shenzhen Special Economic Zone , which encouraged foreign investment and simultaneously accelerated industrialization in this region. These zones attracted investment from multinational corporations and allowed export-oriented Chinese businesses to respond quickly to demand in foreign markets. China continues to maintain Special Economic Zones and certain open coastal areas. Most of China's SEZs are located in former treaty ports and therefore have symbolic significance in demonstrating
285-618: The period 1990 to 2018 establishing SEZs in Nigeria (two), Zambia, Djibouti, Kenya, Mauritius, Mauritania, Egypt, and Algeria. Generally, the Chinese government takes a hands-off approach, leaving it to Chinese enterprises to work to establish such zones (although it does provide support in the form of grants, loans, and subsidies, including support via the China Africa Development Fund ). The Forum on China-Africa Cooperation promotes these SEZs heavily. As of at least 2024, there
304-418: The purpose of economic development. Section 936 corporate tax exemptions for Puerto Rico began with Operation Bootstrap in the 1940s and ended in 2006. The federal minimum wage for U.S. territories has in the past been lower than in the states, and as of 2024, American Samoa is still adjusting upward to the nation-wide minimum. Modern SEZs appeared from the late-1950s in industrial countries. The first
323-454: The zone, financial policies are introduced. These policies typically encompass investing, taxation , trading, quotas, customs and labour regulations . Additionally, companies may be offered tax holidays , where upon establishing themselves in a zone, they are granted a period of lower taxation. The creation of special economic zones by the host country may be motivated by the desire to attract foreign direct investment (FDI). The benefits
342-621: Was in Shannon Airport in County Clare , Ireland . Some tax-free jurisdictions such as the Cayman Islands offer technology companies a way to keep their IP offshore in a Special Economic Zone (see Cayman Enterprise City ). From the 1970s onward, zones providing labour-intensive manufacturing have been established, starting in Latin America and East Asia . The first in China following
361-632: Was one of the first countries in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla in 1965. In order to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India,
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