The United Kingdom’s first Freeports in Plymouth, Solent, and Teesside are now fully up and running after receiving final government approval.
- Teesside, Plymouth and South Devon and Solent Freeports fully operational after final government sign off
- Up to £25 million in seed funding from Government will be released to turbocharge development in each Freeport
- Freeports will play key role in creating tens of thousands of jobs and driving economic growth with billions of pounds of investment
Congratulations to the Plymouth, Solent and Tees Freeports as there has been a lot of hard work to get to this stage. We welcome the next chapter of this key economic policy and want to see Freeports work for their regions as well as the whole of the UK.
We believe strongly that the business benefits Freeport areas include will be pivotal in attracting new investment and jobs to our important coastal regions. This is an exciting time to be involved in the ports sector and we are pleased that policy makers see our industry as a focal point for levelling up.
The BPA was part of the UK Government’s Freeports Advisory Board. We are keen to see the benefits of freeports applied more widely.