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East Midlands Freeport gets official government approval

The East Midlands Freeport has won official government approval for its plan to offer businesses setting up in the Freeport special incentives.

The UK’s only inland freeport is expected to create more than 61,000 jobs for the East Midlands and an additional £8.9 billion for the local economy over the next 30 years.

The green light means that from March 22, 2022, eligible businesses investing in designated areas within the Freeport boundaries will be able to access a range of benefits offered under the government’s Freeport policy. These areas, known as ‘tax sites’, cover the Freeport’s three main sites at East Midlands Airport and Gateway Industrial Cluster (‘EMAGIC’), East Midlands Intermodal Park (‘EMIP ”) and at the Ratcliffe-on-Soar power station redevelopment site. .

The special incentives will be offered to companies whose development plans support Freeport’s key objectives, including promoting growth in advanced manufacturing and logistics, and driving momentum toward Net Zero. Building on Freeport’s other unique advantages as the country’s only inland freeport with unparalleled global transport links, these advantages will help attract and accelerate new high-value, low-carbon investments. that promise to create thousands of skilled green jobs.

By creating much-needed jobs and boosting the economy, the Freeport is expected to benefit communities in the East Midlands and make a vital contribution to the government’s upgrading programme. It is one of eight Freeports established across England.

Welcoming a watershed moment in the development of the Freeport, Penny Coates, Chair of the East Midlands Freeport Board, said: “Government approval for our tax sites means the East Midlands Freeport now offers a total of 533ha of development land. top-notch strategies. where businesses can not only benefit from a fantastic location with fantastic global transport links; they can also benefit from a full package of special incentives that make our Freeport one of the best places to invest in the UK.

“That’s why today’s announcement is when we can really start delivering on our ambitions for the Freeport, creating well-paying green jobs for communities, supporting leveling and helping achieve a net zero economy.”

Nick Rushton, Leader of Leicestershire County Council, said: “Freeports are a key part of upgrading the UK and I am delighted to have reached this major milestone. It’s a big moment for the East Midlands. As the UK’s only inland freeport, the innovative plans will boost the region’s economy, create much-needed jobs and put the East Midlands firmly on the map. Now we can get to work to start fulfilling his promise.

Clare James, Managing Director of East Midlands Airport, said: “We look forward to continuing our work with public and private sector partners to make the UK’s only inland freeport a success and to play our role in the future prosperity of the East Midlands. Building on the strengths of the region’s key sectors, including advanced manufacturing, logistics and R&D, the Freeport is well positioned to drive future investment and economic growth that will create new and diverse jobs for the population. local.

Andrew Pilsworth, Managing Director of National Logistics, SEGRO, said: “As a long-term investor in the Midlands, we believe that warehouse infrastructure can contribute to vast socio-economic benefits, from creating job opportunities and from stimulating economic growth to improving infrastructure and enabling better consumer choice. We welcome the approval of the East Midlands Freeport as a way to accelerate the contribution that SEGRO, our customers and partners can make to delivering these benefits as well as driving the upgrade agenda forward.

John Williams, Executive Chairman of Maritime Transport, said: “Maritime Transport is delighted with the governments confirmation of the tax site designation for EMF. The designation and accompanying benefits will no doubt attract and accelerate investment in the region, where the Maritime Rail Terminal, located in the EMAGIC tax site, is the primary freight gateway for East’s global connectivity. Midlands Freeport.

Dave Johnson, Site Manager for Uniper, said: “Uniper welcomes the government’s statement confirming the designation of the tax site for EMF. As the landowner of the Ratcliffe-on-Soar power station site, Uniper continues to work with regional stakeholders to advance plans to redevelop the site into zero-carbon technology and an energy hub for the East Midlands, with the potential to create employment opportunities based around modern industrial and manufacturing uses.

“The benefits associated with designating Ratcliffe as a tax site within the Freeport will significantly enhance its appeal as a location for new businesses; stimulate future employment and growth opportunities.