Cash boost will power freeport expansion

TAX-BUSTING freeport zones in Plymouth are heading for expansion, after a quarter of million pounds grant from the Government to accelerate planning.

- By ALISON STEPHENSON

The £255,000 of funding will be invested in kick-starting the growth of Langage, Sherford and Turnchapel.

It will be used to commission “a rapid review to better understand the specific planning requirements for each developer and the required performance commitments that would be needed to deliver the freeport vision and secure much needed retained rates”.

Plymouth City Council's leader, Cllr Tudor Evans, said: “There is huge pent-up potential for further growth in defence and marine autonomy industries in Plymouth and the freeport is key to helping unlock this potential. We all need to operate at pace to grab these big opportunities.

“This Government grant funding will help speed up the process for unlocking these three key sites, which will secure private sector match funding and ongoing economic growth and job creation.”

The Plymouth and South Devon Freeport, set up in 2022, was granted £25 million of seed funding in 2024 to address infrastructure gaps and create the right conditions to encourage private sector investment.