Jobs and investment boost for East Midlands as Freeport gets green light

The East Midlands Freeport received final government sign off at the end of March.

The Freeport will now receive up to £25 million seed funding from government and potentially hundreds of millions in locally retained business rates to drive growth in the UK’s advanced manufacturing, biomanufacturing, logistics, and low carbon industries.

It will help encourage investment into sectors including automotive, space, and satellites sectors, generating thousands of jobs and boosting the local economy.

This is the seventh Freeport in England to become fully operational, with just one more expected to get final government sign off in due course. Four new Freeports have recently been named in Scotland and Wales.

The East Midlands Freeport is uniquely positioned as the only inland Freeport in England, with connections to major regional transport hubs, such as the East Midlands Airport.

Levelling Up Minister Dehenna Davison said: “The East Midlands has a thriving manufacturing sector and we want to capitalise on those strengths while also developing new green growth industries.

“The East Midlands Freeport, the only inland Freeport, is up and running and will bring high quality jobs, investment and trading opportunities for businesses in the region.

“This will help us deliver on our mission to grow the economy and level up right across the UK.”

Steve Griffiths, East Midlands Airport’s Managing Director, said: “As the ‘port’ within the Freeport, we welcome today’s news. 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 CBE, said: “We welcome the Minister’s announcement. 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 in our communities throughout Nottinghamshire, Derbyshire and Leicestershire.”

East Midlands Freeport estimates that it will generate over 28,000 new jobs and is already home to world-leading multinational companies, like Toyota Manufacturing UK, and East Midlands Airport - the UK’s busiest ‘pure’ cargo airport.

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