On 7th December it was announced that the UK’s first Freeports at Teesside, Solent and Plymouth & South Devon were now fully up and running after receiving final government approval.
Each of these Freeports will now receive up to £25 million additional funding and gain access to locally retained business rates to upgrade local infrastructure and stimulate regeneration.
The remaining five English Freeports are expected to join Plymouth, Solent, and Teesside in receiving their final approvals shortly, and the Government remains committed to ensuring all four corners of the UK can benefit from the Freeports programme.