Humber Freeport has launched with a mission to drive hundreds of millions of pounds of investment and deliver 7,000 new jobs.
Now open for business, it is described as providing an internationally recognised environment for trade, stimulating economic growth, development and skills in established and emerging industries. Huge opportunities to build on the region鈥檚 fast-growing renewable energy industries and the decarbonisation agenda have been highlighted, as well as the potential for investment in the chemicals, logistics, advanced manufacturing and technology sectors.
Simon Bird, ABP regional director who has led the bid and will now chair the Humber Freeport Company, hosted the government鈥檚 head of freeports in the Department of Business and Trade, Michael Green, as the status was confirmed.
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Mr Bird said: 鈥淭he 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鈥檚 levelling up agenda in the Humber.
鈥淗umber 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.鈥
Mr Bird outlined the benefits freeport status brings to companies investing in the tax and customs sites within the Humber Freeport footprint on both banks of the Humber Estuary.
It features three defined tax sites 鈥 Hull East; Able Marine Energy Park / Immingham and Goole 鈥 each of which offers incentives for businesses operating within the zones.
Benefits include land tax relief, business rate relief, enhanced capital allowances and National Insurance contribution relief for employers. In addition, a new customs zone which has been created at Grimsby will help unlock growth in the car handling and storage sector, supporting the growth of the electric car industry.
He said investors also benefit from 鈥渁ssumed permitted development rights to speed up the planning process鈥 and that 鈥渨hen added to being adjacent to high-quality port operations, the offer becomes even more appealing鈥.
With some benefits only lasting until 2026, Mr Bird said he was "looking for government to be mature and grown up" about an extension to the time it has taken to get set up. Hopes for 2030 and even 2036 were expressed, though concerns that could lead to landbanking were aired.
The freeport officially launched at a VIP event at ABP鈥檚 Grade II listed Pump House on Alexandra Dock, neighbouring Siemens Gamesa鈥檚 expanding wind turbine blade manufacturing facility.
Leading figures from the public and private sectors, marked the establishment, with all four local authorities represented, with leaders sitting on the board alongside private businesses and other organisations.
Mr Green said: 鈥淔reeports represent a generational shift. Inward investment is hugely important for job creation and regeneration and we are looking to build on the 海角视频鈥檚 centres of excellence with targeted Government support.
鈥淗umber Freeport will play a key role in decarbonising industry in what is the largest industrial cluster in the 海角视频. It will ensure the region makes the most of the unique assets it holds. 17 per cent of 海角视频 trade arrives on the Humber Estuary, and being within four hours of most areas of the 海角视频, the size and scale of opportunity here in the Humber should not be underestimated.鈥
Humber Freeport will build on significant ongoing investment in the region, including Pensana鈥檚 拢150 million rare earth metals processing plant, now under construction, and plans by Meld Energy to invest 拢180 million in a green hydrogen production facility, both at Saltend Chemicals Park, east of Hull, which sits within the freeport footprint.
Across from there Yorkshire Energy Park is emerging. Jo Barnes is the managing director of Sewell Estates, a key partner in what is set to be the 海角视频鈥檚 first freeport-based energy and technology business park.
鈥淭his is a huge step forward for us, for all of us,鈥 she said. 鈥淪ecuring freeport status is a huge opportunity for the Humber. It will significantly raise the profile of the area to potential end users and investors on the global stage.
鈥淲e鈥檝e already got early evidence of this at Yorkshire Energy Park, with our site moving forward confidently and early site works planned for later this year in anticipation of construction commencing next year.
鈥淭he benefits are not just financial either. It鈥檚 been great to see freeport partners working together for mutual benefit, from commercial partnerships to directing end user interest or working with statutory agencies. We can tell a more coherent story about the area鈥檚 potential and the freeport can act as a catalyst for solid and sustainable growth.鈥
MP behind freeport push welcomes approval as bigger role in devolution is eyed
One of the staunchest supporters of the freeport movement has welcomed the status finally sailing into his constituency.
Martin Vickers, who represents Cleethorpes and Immingham - the largest of the Humber ports - set up the all-party parliamentary group on freeports after the opportunity was first mooted by then Chief Secretary to the Treasury, Rishi Sunak.
Now Prime Minister, he had initially shared the vision for a post-Brexit internationally-attractive quayside status in 2019, paving the way for the Humber when he was Chancellor in early 2021.
鈥淚t seems a very long time since I persuaded ministers to pursue this policy after it had been floated,鈥 Mr Vickers said, having topped the list of those thanked for their support from Simon Bird as it was officially launched.
鈥淭here was tremendous support from my back bench colleagues, and I remember clearly when government adopted the policy, which was a great step forward.
I have been constantly pushing ministers, having had regular meetings with Simon Bird and others, so it is great to have finally crossed the line. It is a great initiative for jobs and attracting inward investment in the Humber region and I am confident we will make the best of that.鈥
Mr Bird described the potential offered as 鈥渕assively exciting鈥 ahead of stepping on stage. He said: 鈥淲hen we thought about the Humber offering, we were thinking of three months' work, but here we are nearly three years later, but we have got it. We鈥檙e finally opening Humber Freeport as a company, it now has legal status and we鈥檝e had our first board meeting.
鈥淭he full business case, if we deliver, is 7,000 highly skilled jobs. The investment, the tax advantages, the opportunity to be across the Humber and the unique selling points we have, it is a compelling proposition.鈥
With a fair wind and strong start, Mr Bird believes it 鈥渨ould not be a stretch鈥 to see the Humber Freeport Company, with the four local authorities represented, playing a role in delivering on the levelling up agenda too, with government and business recognising the Humber as a single region. 鈥淲e may have a greater role to play,鈥 he said.
