The Welsh Government has today announced that the new Ynys Mon
Freeport special status has gone live.
Ynys Mon (Anglesey) joins the other freeport in Wales, the Celtic
Freeport of Port Talbot and Milford Haven, which went live in
November.
The freeports will form special zones for business with tax and
customs benefits, and funding for key infrastructure and skills
projects. The Welsh freeports are distinctive as they
include fair work, union recognition and the involvement of local
authorities.
Freeports are designed to promote regeneration and the creation
of high-quality jobs. They also aim to become a national hub for
global trade and investment across the economy, and foster an
innovative environment.
The Welsh freeports are focused on boosting the distinct
strengths of each area, exploiting opportunities from offshore
wind and marine energy to advanced manufacturing and innovation.
The Ynys Mon Freeport consists of sites at Prosperity Park and
Parc Cybi in Holyhead, M-Sparc near Gaerwen and two brownfield
sites on Llangefni Industrial Estate.
The Welsh freeports aim to attract £6.5 billion in investment and
create around 17,000 jobs.
First Minister said:
“This is great news for Ynys Mon, which is especially welcome
following the recent storm damage which hit Holyhead.
“One of the priorities I set out when I became First Minister was
to create green jobs and growth. I'm proud that our Welsh
freeports will not only attract investment and jobs, but unlike
others, they are committed to promoting fair work and
environmental sustainability.”
Cabinet Secretary for the Economy, , said:
“This will make a real difference in terms of supporting
sustained growth and the creation of high-quality jobs
across North Wales.
“We are working closely with the UK Government to finalise the
freeports' business cases, which will result in up to £25m seed
capital for each freeport as they move fully into delivery.”
Welsh Secretary said:
“This is a fantastic day for Wales with both of our freeports now
open for business and beginning the work of generating
investment, opportunity and growth.
“Our £26 million investment in the Anglesey freeport will help
drive our vision for this part of Wales, bringing thousands of
new jobs and boosting the industries of the future.”
Notes to editors
To explain the difference between the '£25m seed capital' and
'£26m investment' - £1m revenue funding, already provided
to the Freeports, is included in the £26m figure.
