Sunday, September 19, 2021

East Midlands Freeport reaches important milestone

Plans for the UK’s only inland freeport have taken a major step forward after an outline business case was submitted to the Government.

The document is part of the process that Government has designed to make all of the planned freeports in England operational as soon as possible and builds on the success of the initial East Midlands Freeport bid from a consortium led by Local Enterprise Partnerships representing Derby, Derbyshire, Nottingham, Nottinghamshire, Leicester, and Leicestershire earlier this year.

The consortium included private sector businesses and local authorities, with support from universities, business groups, local MPs and the proposed East Midlands Development Corporation.

Technical information contained in the outline business case includes analysis that demonstrates how the freeport will contribute around £8.4 billion to the East Midlands economy over the next 30 years alongside its potential to support and create around 55,000 jobs.

The blueprint centres on the East Midlands Freeport’s unique strengths as the UK’s best-connected freeport, located at the heart of the nation’s advanced manufacturing and logistics economy, with plans to boost skills and accelerate the region’s commitment to cutting carbon emissions.

The next stage of the development process will see further plans submitted in December with the ambition to make the freeport fully open for business by March next year.

Penny Coates, Independent Chair of the East Midlands Freeport Board, said: “I’d like to thank all our partners for the huge amount of hard work they have undertaken to get to this stage.

“The close collaboration between the public and private sector right across the region demonstrates the strength of our shared ambition, and it has been great to see the Government’s support for our work throughout.

“There is still much work to do but we’re ready to continue to work together and alongside Government to deliver the exciting potential that the freeport offers for our region.

“The freeport creates a huge opportunity for the region to level up some of our most deprived areas, as well as to create much needed jobs, increase further education and skills, and to encourage business innovation and relocation into the UK.

“Being the only inland freeport, with its central location and excellent rail, road and air links, it also creates fantastic global connections for all other UK freeport sites.

“The freeport has net zero, innovation and skills at its core. The idea that we can create a freeport that unites education, innovation and skilled jobs, creates new opportunities and attracts and retains talent within the region is hugely exciting.”

 

The outline business case contains commercially sensitive information so remains confidential.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.







Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close