Humber Freeport given go ahead to launch with prospect of 7,000 jobs

28 OCT 2021  Business Live

The first tax sites can begin operating from next month.

Port of Hull, part of the Humber freeport complex
Port of Hull, part of the Humber freeport complex (Image: ABP)

One of eight confirmed in the Spring Budget, the go-ahead was documented in the Treasury’s Budget Report, the ‘red book’ laid before the House of Commons when Rishi Sunak got to his feet on Wednesday. A further £230 million for the country’s continued push on offshore wind was also included.

Humber was recognised as the leading bid, submitted with Associated British Ports heading it.  Port director, Simon Bird, chairs the steering company.  He said: “It is fantastic news, great news for the Humber.

“The opportunities the freeport will bring, with two tax zones approved and a third which will come through, are fantastic and enable us to go on with all that decarbonisation offers to the North and South Bank through offshore wind, hydrogen and carbon capture, alongside the manufacturing.”

He said interest was strong, with the confirmation received making it an even stronger case to present as an investment opportunity, as highlighted by one company already

“We have the company Pensana, having already announced its intention to develop a rare earths processing complex, confident in the delivery of a freeport.

“They can see the benefits freeport will bring, and that’s the Humber winning over other sites in the UK because they had the belief. We landed a very compelling bid in front of the government, and I couldn’t be more delighted.

“A lot of work has gone into this opportunity, and the private and public sector really got after it, to really maximise it, and I can assure everyone we are doing just that.