New high-quality jobs and much-needed investment for the East
Midlands region will be unlocked today, as the East Midlands
Freeport receives final government sign off.
The Freeport will now receive up to £25 million seed funding from
government and potentially hundreds of millions in locally
retained business rates to drive growth in the UK’s advanced
manufacturing, biomanufacturing, logistics, and low carbon
industries.
It will help encourage investment into sectors including
automotive, space, and satellites sectors, generating thousands
of jobs and boosting the local economy.
This is the seventh Freeport in England to become fully
operational, with just one more expected to get final government
sign off in due course. Four new Freeports have recently been
named in Scotland and Wales.
The East Midlands Freeport is uniquely positioned as the only
inland Freeport in England, with connections to major regional
transport hubs, such as the East Midlands Airport.
Levelling Up Minister said:
The East Midlands has a thriving manufacturing sector and we want
to capitalise on those strengths while also developing new green
growth industries.
The East Midlands Freeport, the only inland Freeport, is up and
running and will bring high quality jobs, investment and trading
opportunities for businesses in the region.
This will help us deliver on our mission to grow the economy and
level up right across the UK.
Taking full advantage of the freedoms of leaving the EU,
businesses in Freeports are offered generous tax incentives and a
simplified customs procedure, unlocking much-needed investment
and high-quality jobs.
Steve Griffiths, East Midlands Airport’s Managing Director,
said:
As the ‘port’ within the Freeport, we welcome today’s news. The
Freeport will provide a focal point around which the public and
private sectors can collaborate to shape the future economic
success of this region. We look forward to working as part of the
East Midlands Freeport to make the most of this opportunity and
to build on our role as a key gateway for facilitating global
trade.
East Midlands Freeport estimates that it will generate over
28,000 new jobs and is already home to world-leading
multinational companies, like Toyota Manufacturing UK, and East
Midlands Airport - the UK’s busiest ‘pure’ cargo airport.
- The Ratcliffe-on-Soar Power Station site will focus on
low-carbon energy and advanced manufacturing, and be redeveloped
to become a zero-carbon technology and energy hub for the East
Midlands, helping to meet the region’s decarbonisation goals.
- East Midlands Airport and Gateway Industrial Cluster
(EMAGIC), home to the East Midlands Airport, will advance the
nation-leading advanced logistics market in the East Midlands.
- East Midlands Intermodal Park (EMIP), located adjacent to the
nationally significant Toyota manufacturing plant, has the
potential to become the next generation of rail connected
business parks. The proposed investment will also enable a
significant modal shift, from road to rail freight, reducing
carbon emissions for businesses within the region and increasing
connectivity.
The government’s Freeport programme is moving at pace, with seven
sites now fully operational in England, already creating
thousands of jobs. The Government confirmed Celtic Freeport in
Milford Haven and Port Talbot, and Anglesey Freeport on Ynys Mon
chosen as Wales’ first Freeports recently. In January, the
Government confirmed two new Green Freeports in Scotland to be
established in Inverness and Cromarty Firth and Firth of Forth.
Freeports are central to unleashing economic growth across the
entire UK, contributing to the levelling up mission. They will
drive the UK’s shift to a dynamic, low-carbon economy, helping
businesses to collaborate, innovate, and develop the technologies
and supply chains that will underpin our journey to Net Zero.
