Freeport East to bring wealth of opportunities for Mid Suffolk and Babergh
As part of Freeport East, Gateway 14 is set to bring a range of business and investment benefits from this new national initiative to the region.
In the spring 2021 Budget announcement, Chancellor Rishi Sunak confirmed that Freeport East will become one of the first sites in the UK to be awarded Freeport status.
The government's Freeports initiative will allow firms to import goods and then re-export them outside normal tax and customs rules and the aim is to have 10 Freeport sites designated across the UK by the end of the year. Freeport East has stated that it ambition is to create manufacturing, green energy and innovation hubs that capitalise on the unique qualities of the Eastern Region and will become an important part of the regions post-Covid recovery.
Freeport East, which is centred around the region’s largest trading route at the Port of Felixstowe and Harwich International Port, also includes Gateway 14 near Stowmarket and Port One at Gt Blakenham.
For Gateway 14, which will become a Tax Site, the freeport status will help us to accelerate the delivery of over 1 million square feet of employment space as well as 4,000 jobs and will help us to attract high value, innovative manufacturing companies to the site.
Statement of support from Cllr Suzie Morley, Leader, Mid Suffolk District Council:
“The confirmation of Freeport East as one the UK’s first Freeport sites is very welcome news. The opportunities that the Freeport status will bring to Gateway 14 and the wider region will help us deliver our ambitions to encourage innovation, attract investment and support business growth.
Gateway 14, along with the other key sites in Felixstowe and Harwich, is in a unique position to support business growth across multiple sectors from large manufacturers to smaller start-ups, all of which will be key to supporting our local economy and creating job opportunities.”
Statement of support from Cllr John Ward, Leader, Babergh District Council:
“Freeport East is a huge opportunity for the region as we grow our economy post Brexit and post Covid. The aim is that we will not only grow our local businesses, but we will also create an environment to attract new businesses to the area to benefit from the Freeport status but also to benefit for the region as a fantastic place to live.”
Further information about can be found by visiting the Freeport East website.