Humber Freeport launches with ambition to create at least 7,000 jobs

Humber Freeport has launched with a mission to drive hundreds of millions of pounds of investment and at least 7,000 jobs.

The freeport will seek to harness the potential and location of the Humber to stimulate economic growth, skills development and inward investment in both established and emerging industries.

Huge opportunities to build on the region’s fast-growing renewable energy industries have already been identified, as well as potential investment in the chemicals, logistics, advanced manufacturing and technology sectors.

“Freeports represent a generational shift,” said Michael Green, head of freeports at the Department for Business and Trade.

“Inward investment is hugely important for job creation and regeneration and we are looking to build on the UK’s centres of excellence with targeted Government support.”

The Humber Freeport Company was officially launched at an event at Associated British Ports’ Pump House at Hull’s Alexandra Dock.

Humber Freeport chair Simon Bird said: “The Humber Freeport has an outstanding and potentially unique opportunity to be not merely a source for economic growth, but the primary vehicle for the delivery of the Government’s levelling up agenda in the Humber.”

Humber Freeport comprises of three defined tax sites – Hull East; Able Marine Energy Park and Immingham, on the south bank of the Humber; and Goole.

Freeport status provides incentives for businesses operating within the zones, including land tax relief, business rate relief, enhanced capital allowances and National Insurance contribution relief for employers.

A new customs zone has been created at Grimsby to help unlock growth in the car handling and storage sector, supporting the growth of the electric car industry.

Decarbonisation is one of three key workstreams established by Humber Freeport, alongside skills and innovation, and will be a key focus for the freeport’s work.

Humber Freeport will build on significant ongoing investment in the region, including Pensana’s £150m rare earth metals processing plant, now under construction, and plans by Meld Energy to invest £180m in a green hydrogen production facility, both at Saltend Chemicals Park, east of Hull, which sits within the freeport footprint.

At Goole, Siemens Mobility is investing up to £200m in a rail manufacturing facility, where tube trains for London’s Piccadilly line will be built. The factory is the heart of a growing rail village encompassing manufacturing, servicing and research and development facilities.