THE South West is celebrating in being one of the first fully operational Freeports to get final government approval – with Plymouth securing £25 million in seed funding for further development.
Plymouth’s Freeport will benefit with a range of measures that will give certain tariff and customs exemptions, easier planning permission, tax benefits, and new regeneration in the waterfront city.
Two other British areas have been awarded Freeport status on Teeside and the Solent with £25 million each.
Prime minister Rishi Sunak launched the government’s plans to establish eight English freeports in March 2021, when he was chancellor.
