Major step forward for East Midlands Freeport

The freeport should be open for business by March 2022

Plans for the UK’s only inland freeport have taken a huge step forward after an outline business case was submitted to the Government.

The zone near Castle Donington will have lower taxes and different customs rules in an effort to make trade easier.

The document is part of the plan to make all of the planned freeports in England operational as soon as possible and builds on the success of the initial East Midlands Freeport bid earlier this year.

The case shows how the freeport will contribute around £8.4 billion to the East Midlands economy over the next 30 years alongside its potential to support and create around 55,000 jobs.

Penny Coates, Independent Chair of the East Midlands Freeport Board, said: “The freeport creates a huge opportunity for the region to level up some of our most deprived areas, as well as to create much needed jobs, increase further education and skills, and to encourage business innovation and relocation into the UK."

The next stage of the development process will see further plans submitted in December with the ambition to make the freeport fully open for business by March next year.