: Today the UK and Welsh
governments have jointly announced that there will be two new
Freeports in Wales: Celtic Freeport and Anglesey Freeport.
This is an important moment for people across Wales. Freeport
status will support the creation of high skilled jobs, drive
growth and level up parts of our great country that have been
previously overlooked. Each Freeport, subject to business case,
will be backed by up to £26 million in UK Government funding, and
a range of tax incentives, including locally retained business
rates to upgrade local infrastructure and stimulate regeneration.
This is alongside a generous package of trade and innovation
support for businesses locating there.
These two new Freeports will unlock significant funding for
Wales, helping to boost the economy and ensuring the benefits are
felt from Anglesey to Port Talbot and Milford Haven. They
will help to create tens of thousands of new jobs, boost
business, and unleash potentially billions of pounds of
investment in the local areas and beyond. The strong bids from
the Celtic and Anglesey sites compellingly demonstrated how they
will use Freeport status to regenerate their local communities,
establish hubs for global trade, and foster an innovative
environment.
Freeports are at the vanguard of Levelling Up: driving growth and
bringing opportunity and prosperity to the communities that
surround them. The new Freeports in Wales will build on the UK
Government’s successful Freeport programme in England, where all
eight Freeports are open for business, and in Scotland where two
new Green Freeports have recently been announced.
This Government remains committed to ensuring that the whole of
the UK can reap the benefits of our Freeports programme. As well
as Freeports being set up in England, Scotland and Wales, we also
continue discussions with stakeholders in Northern Ireland about
how best to deliver the benefits associated with Freeports there.
