Freeport hits key milestone

THE DEVELOPMENT of the Freeport, which is expected to create up to 13,500 new jobs, will be boosted by £25 million in Government funding to support infrastructure enhancement.

Freeport East covers an area within roughly 45 kilometres of the ports of Felixstowe and Harwich, stretching from Woodbridge in the north, to Stowmarket in the west and Jaywick Sands in the south. Colchester and Ipswich are both key parts of the Freeport economic area.

The Freeport has three main development sites at the Port of Felixstowe, Harwich International Port and Gateway 14 near Stowmarket. Freeport East will be able to collect and deploy 100% of the business rates growth generated on these sites for the next 25 years, providing millions of pounds of financial backing to invest in regeneration, skills and innovation across the local area.

Work has already commenced on the Gateway 14 development and there are ambitious plans to create a green energy hub in Harwich to serve sectors including offshore wind.

All the developments have an emphasis on supporting innovation, skills development and net zero as well as acting as anchors for wider economic impact.

The Universities of Essex and Suffolk as well as a range of other partners in the region have committed to working with Freeport East and its businesses to accelerate innovation across operations, products and services.