Big step forward for island freeport as full business case backed

ANGLESEY Freeport has been given the green light in a move that will open up the island as a 'hub for global trade'.

- By ANDREW FORGRAVE Countryside and Tourism Editor

The UK and Welsh Governments have approved a Full Business Case (FBC) for the Holyhead-based project, enabling it to unlock £25m in government seed capital.

The FBC gives details of how Anglesey Freeport plans to operate. It follows the approval of the Freeport's Outline Business Case earlier in the year, which designated the 'Anglesey Prosperity Zone' and the 'Central Anglesey Tax Sites'.

A third tax site, called 'North Anglesey,' is expected to be approved later this year.

New businesses located within these sites will benefit from special tax reliefs.

It's hoped this will attract inward investment - Anglesey Council believes 'exciting times' lie ahead for the island's economy.

With both business cases given the go-ahead, all required approvals are now in place and so the Freeport will move to its 'delivery phase'.