An industrial park is an area zoned and planned for the purpose of industrial development. An industrial park is also known as “Industrial Estates/Trading Estates/Industrial zone”. It is a large area in which a number of commercial or industrial firms are situated. This can include chemical plants, plastics manufacturers, airports, food and beverage processors and steel manufacturers.
Industrial parks are usually located outside the main residential area of a city and normally provided with good transportation access. They are usually located close to transport facilities, especially where more than one transport modes like highways, rail road’s, airports and ports are available. It is an area zoned and planned for the purpose of industrial development. It is a purpose built and facility equipped area of industrial units in a large number.
Finally, we can say that an industrial estate is a place where the required facilities and factory accommodation are provided by the Government to the entrepreneurs to establish their industries there. Some industrial parks offer tax incentives for businesses to locate there, such as tax increment financing.
