Government designation has come to Goole's freeport tax site in a milestone that opens up a range of financial benefits to firms locating there.
The 500 acres of development land forms part of Humber Freeport and has been officially signed off by the Treasury and HM Revenue & Customs, having been submitted for review last year. Freeport leaders say the move will stimulate further investment into the site, which is already attracting businesses.
But the newly designated status means firms there will be able to access incentives such as business rate and stamp duty land tax relief, and National Insurance support designed to reduce employment costs.
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Simon Bird, chair of Humber Freeport, said: "Designation of the Goole tax site is another major positive step forwards for Humber Freeport and our mission to drive economic growth, generate thousands of skilled jobs, support innovation and promote cross-sector collaboration. We strongly believe our freeport proposition in the Humber is a compelling and unique one, with huge opportunities in decarbonisation, advanced manufacturing, chemicals and port-related operations.
"We’re offering investors the opportunity to benefit from the Humber’s status as a global gateway, with easy access to mainland Europe and beyond via the 海角视频’s busiest ports complex. We’ve got the space to grow, the people, the skills and the world-class companies already here to support investors, making the Humber the perfect place to do business."
Local property developer Wykeland Group owns the long-term development rights to a 211-acre portion of the Goole site where it has secured a deal with Finnish tissue paper maker Metsä Tissue which intends to invest millions there to create what is said to be the 海角视频's largest tissue paper mill. The facility, which subject to planning approval will take shape over the next few years, is slated to create more than 400 jobs.
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Dominic Gibbons, managing director of Wykeland, said: “Confirmation of freeport tax status for the Goole site is excellent news for Goole and the wider Humber. The freeport tax site benefits added to the attractiveness of the proposition for Metsä Tissue. They also underline the appeal of the wider Goole site, paving the way for further large-scale development delivering economic growth, new jobs and wide-ranging community benefits.”
Freeport chiefs have pointed to Goole's success in attracting inward investment in recent years, including the £200m being spent on Siemen's nearby factory that will produce London Tube trains for the city's Piccadilly Line. They says the southern end of the site, owned by St John’s College, Cambridge with HBD appointed as development partner, is ripe for creation of an integrated supply chain alongside Siemens and the Guardian Glass factory.
Goole is one of three Humber Freeport tax sites, alongside Hull East and the Able Humber Port at Immingham.