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All systems go for East Midlands Freeport

[ April 4, 2023   //   ]

East Midlands Freeport has become fully operational after getting final government sign off on 30 March.

The Freeport will now receive up to £25 million seed funding from government and potentially hundreds of millions in locally retained business rates.

It aims to encourage investment into sectors including automotive, space, and satellites sectors.

East Midlands Airport managing director, Steve Griffiths, said: “The Freeport will provide a focal point around which the public and private sectors can collaborate to shape the future economic success of this region. We look forward to working as part of the East Midlands Freeport to make the most of this opportunity and to build on our role as a key gateway for facilitating global trade.”

East Midlands freeport chair, Nora Senior, added: “As the only inland freeport in the UK, East Midlands Freeport is a hugely exciting and ambitious project designed to bring lasting benefits to the region in terms of jobs and economic growth. Its unique location at the heart of the UK will present opportunities to create trade hubs to drive green innovation as well as support investment in research and development. It will also drive regeneration in the region through reinvestment of retained business rates in our communities throughout Nottinghamshire, Derbyshire and Leicestershire.”

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