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Humber Freeport – it’s official

[ July 17, 2023   //   ]

Humber Freeport was officially launched at Hull’s Alexandra Dock on 17 July, which also marked the establishment of the Humber Freeport Company.

Humber Freeport comprises three tax sites – Hull East; Able Marine Energy Park and Immingham, on the south bank of the Humber; and Goole. Benefits include land tax relief, business rate relief, enhanced capital allowances and National Insurance contribution relief for employers.

Speaking at the event, Humber Freeport chair Simon Bird said investors also benefit from “assumed permitted development rights to speed up the planning process”.

He added: “The Humber Freeport has an outstanding and potentially unique opportunity to be not merely a source for economic growth, but the primary vehicle for the delivery of the Government’s levelling up agenda in the Humber.

“Humber Freeport will seek to secure hundreds of millions of pounds of private sector investment and the final business case conservatively estimates that such investment will create at least 7,000 new, mostly skilled, jobs. This investment will have a transformative effect in lifting the prospects of the region.”

Mr Bird was joined at the launch by Michael Green, Head of Freeports at the Department for Business and Trade, who said: “Freeports represent a generational shift. Inward investment is hugely important for job creation and regeneration and we are looking to build on the UK’s centres of excellence with targeted Government support.”

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