On January 10th Freeport East - a proposal to make a low tax, high investment zone in parts of Essex and Suffolk - was given the final go ahead by the government. This makes £25 million of investment available and it is hoped that it might generate 3,500 jobs in the wider freeport economic area.

Freeport East consists of three locations, Felixstowe, Harwich and Gateway 14 (a business park on the outskirts of Stowmarket), designated and recognised in law as geographical areas where businesses can benefit from tax reliefs in exchange for investment, trade and jobs that will regenerate the region.

Welcoming the news, Steve Beel, Chief Executive of Freeport East, wrote on the company website:

“This is a major milestone for Freeport East and the result of a great deal of hard work from all our partner organisations. Freeport East is a locally led initiative but has global connections and ambition.

“Bringing together key stakeholders including local government, the private sector, and educational institutions we will attract new investment to create a hotbed for trade, innovation and green energy driving growth in both the regional and national economies.

“We will look to partner and collaborate with all organisations interested in the economic success of the region and encourage parties to get in touch with us directly.”

Tax Relief

Businesses operating within the Freeport East tax relief boundaries (in red on the map, above) will qualify for certain tax reliefs - including the waiving of employer National Insurance contributions for three years on newly hired staff earning up to £25,000, and Stamp Duty relief for businesses investing in infrastructure.

Green Objectives

A new hydrogen generation scheme and a new offshore wind farm at Harwich are two of the major green investments planned for Freeport East. The Hydrogen plant will be powered in part by wind and part by the nuclear power stations Sizewell B and C - meaning the energy hungry process will not have to rely on carbon emitting fossil fuels.

At People with Energy we’re delighted to see a boost for the region and we are perfectly positioned to assist all stakeholders in finding the staff they need for their new investments.

Our specialist team works with local, national and international companies to fill exciting positions in all areas of the renewable, oil and gas and nuclear industries. Give our office a call on +44 (0)1502 564892 or email stuartsmith@peoplewithenergy.co.uk