Plymouth and South Devon Freeport has successfully drawn down the full £25 million from the Government for key infrastructure projects which will unlock growth and investment opportunities in the Freeport area.
Initiated by the previous Government, and with full backing provided by the new administration, the UK Freeports programme is designed to boost economic activity, jobs and innovation in areas that, historically, have been under funded.
As part of a package of measures to drive growth, £25 million seed capital funding was allocated to each English Freeport to address infrastructure gaps in Freeport locations and create the right physical conditions to encourage private sector investment.
Plymouth and South Devon Freeport has successfully been awarded its full £25 million from Government, with seed capital funded projects either already underway or due to start soon.
The full seed capital programme is designed to stimulate investment, job creation, support innovation and facilitate workforce development across the Freeport’s key sectors of marine, defence, space, advanced manufacturing, engineering and clean energy. The programme will deliver:
- A Plymouth City Council direct development of two new buildings of innovation units and mezzanine office space at South Yard in Devonport
- A factory extension for anchor tenants Princess Yachts that will enable them to build a new motor yacht incorporating all the latest sustainability developments at South Yard
- A spine road extension by Devon County Council that will unlock Plot 7 and Plot 8 of Carlton Power’s land at the Freeport’s largest tax site at Langage
- Supply of power to Plot 2 and Plot 3 of Carlton Power’s development also at Langage
- An access road off Holland Road to Carlton Power’s Plot 1 and Plot 2, leading to Plot 5, at Langage
- A second Plymouth City Council direct development of four units – (circa 4,615sq m of flexible, high quality, sustainable workspace) at Langage – ground was broken on the development (Beaumont Way) at the start of December (headline image)
- Land assembly enabling South Hams District Council to temporarily purchase and secure for Freeport purposes the tax site land at Sherford
- Core infrastructure including drainage and utilities, and access road delivery by the Sherford Consortium to enable development at Sherford
- A pedestrian/cycle bridge across the A38 by Devon County Council which will provide residents active travel access between the Freeport’s Langage and Sherford sites
- A port optimisation project by Cattewater Harbour Commissioners designed to attract cleaner, greener ships to the port
- Enhanced freight capability at Millbay Docks with the strengthening of the West Wharf, part of a £23m investment by Associated British Ports.
Richard May, CEO, Plymouth and South Devon Freeport:
“By supporting these crucial infrastructure projects, the Freeport is proving itself as the catalyst for stimulating economic growth, unlocking potential, attracting investment, and creating jobs for the people of Plymouth, South Devon and the wider region. We would encourage any new and high growth businesses operating in our focus sectors of marine, defence, space, advanced manufacturing and clean energy to contact the team to find out how the Freeport can support.”
Plymouth City Council’s leader Tudor Evans OBE:
“I have said all along that when people ask what Freeport means: it means jobs – hundreds of quality jobs in emerging industries right here, in and around Plymouth.
“The programme of funding couldn’t be clearer in its aims to nudge infrastructure projects forwards so that we seize the incredible opportunities bubbling away in our key business sectors.
“These schemes of buildings, wharfs, power, roads and land will create careers, supply chains, collaboration, put money in people’s wallets and help businesses to flourish.”
Cllr John Birch, South Hams District Council’s Executive Member for Economic Development and Commercial Strategy:
“I am really pleased that the final Freeport seed capital projects are progressing, with over £15m of the £25m being invested in the South Hams.
“Highway improvements between Sherford and Langage will help strengthen key links for Langage businesses, which will be essential for unlocking land that has already been allocated for employment growth. This growth will support manufacturing and high-value engineering businesses who will then benefit from the tax-free zone.
“To date, over 100 businesses have expressed an interest in operating on the site and now we can move forward. Carlton Power’s green hydrogen plant has already gained planning permission which will provide green energy solutions locally within the South Hams.
“We are committed to increasing growth for our businesses in the South Hams, alongside our partners within the Plymouth and South Devon Freeport. This is an exciting time.”
Councillor Rufus Gilbert, Devon County Council Cabinet Member for Economic Recovery and Skills:
“The public and private sector partnership of the Plymouth and South Devon Freeport should be extremely proud that it has successfully been awarded its full £25 million from Government. It’s a positive endorsement of the strength of the project and everyone involved should be applauded for their efforts.
“Devon County Council’s infrastructure schemes to develop an access road off Holland Road and a pedestrian/cycle bridge over the A38 will both improve access to Langage. A lot of work has already gone into preparing these key developments and there can be no doubt this infrastructure is critical to unlocking economic growth at the Freeport sites.”
The Freeport is supporting significant economic growth for Plymouth, South Devon and the wider region, with these seed capital funded infrastructure works playing a crucial role in unlocking its full potential. These works will enable business development, attract new investment, and ultimately generate jobs, and, with the extension of tax benefits now until September 2031, eligible new and high growth businesses, investors and developers now have an achievable time frame to take advantage of the benefits and opportunities the Freeport provides.