PLYMOUTH is to submit its outline business plan for the city’s taxbreak freeport in November, with a stakeholder event expected to take place early in the month.
The city was named as a recipient of one of the country’s eight new freeports by Chancellor Rishi Sunak in his March Budget this year. It meant Plymouth stands to benefit from a £100 million investment and employment boom, with an estimated 1,000 jobs created in the first two years.
Plymouth was named as a freeport alongside East Midlands Airport, Felixstowe and Harwich, the Humber region, the Liverpool City Region, Solent, Thames and Teesside, but it must have its case approved by ministers.
Plymouth City Council has been put in charge of producing an outline business case for what is being called the Plymouth and South Devon Freezone.
The council staged a stakeholder event in June and now is organising a second stakeholder get-together and aims to have its outline plan at Whitehall before the end of November.
A statement from the council said: “The Outline Business Case for the Plymouth and South Devon Freezone will be submitted in November.
This story is from the October 20, 2021 edition of The Herald.
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This story is from the October 20, 2021 edition of The Herald.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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