Humber Freeport has highlighted the development potential with the launch of its Investment Prospectus
Left to right: Humber Freeport Chair Finbarr Dowling; Dame Andrea Jenkyns, Mayor of Greater Lincolnshire; Luke Campbell, Mayor of Hull and East Yorkshire; and Ibrahim Mohamed, Strategic Advisor at the Department for Business and Trade.(Image: Jemma Mickleburgh, JMA Photography.)
Up to 5,000 new jobs and £3bn of investment could be unlocked in development opportunities which have been showcased by Humber Freeport at a major event.
The opportunities are set out in full for the first time in Humber Freeport ’s new Investment Prospectus, which was launched at UKREiiF, the UK’s premier event for investment, regeneration, property and infrastructure hosted in Leeds this week. The potential development prospects are based on strategically located sites benefiting from Freeport financial incentives, spanning a total of 600 hectares, in Hull, Goole and Immingham.
They also shine a light on the Humber’s compelling proposition as a gateway for international trade, a manufacturing powerhouse, and a strategic asset in UK energy security. So far, over £2bn of investment has already been secured across the Humber Freeport tax sites – one of the special areas within the UK’s borders where different economic regulations apply – and it has been estimated that a further £2-3bn of investment can be delivered on these sites over the next decade, creating an additional 5,000 high-value jobs.
Humber Freeport launched the Investment Prospectus to a packed event at UKREiiF hosted by Connected Places Catapult, the UK’s innovation accelerator. Freeport leaders were joined by the region’s two elected Mayors, Luke Campbell and Dame Andrea Jenkyns, in presenting the Humber as a premier UK location for large-scale investment.
Humber Freeport Chair Finbarr Dowling said: “The Humber has long been a place where industry, trade and ambition meet. This prospectus highlights the many strategic advantages that position our region as one of the UK’s most compelling locations for industrial investment.
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“Having spent more than three decades working in advanced manufacturing and inward investment, I’ve seen first-hand what this region can deliver. The Humber has moved from vision to reality, attracting global businesses, building skilled workforces, and delivering projects at scale.
“Freeports are central to the UK Government’s Industrial Strategy and act as catalysts for growth and regeneration. Our delivery-led model is focused on creating the skilled jobs and opportunities which empower communities and enable our region to thrive.”
Confirmed major investments including LanzaTech’s sustainable aviation fuel facility at Saltend Chemicals Park near Hull, and Metsä Tissue’s development of what will be the UK’s largest tissue paper mill, in Goole. In moves to attract further major inward investors, the Investment Prospectus underlines how the Humber offers investors scale, capability and proven delivery, and sets out strategic opportunities across the Humber Freeport’s tax sites.
The prospectus also spotlights the incentives available to investors in freeport tax sites, including reliefs from business rates, Stamp Duty Land Tax and Employer National Insurance Contribution.
Mayor Luke Campbell said: “The Humber already plays a huge role in the UK economy, but this prospectus shows there’s a lot more we can achieve. It sits alongside our Local Growth Plan, which builds on Hull and East Yorkshire’s strengths to create real opportunities for local people.
“I want to work together across the Humber to bring in new investment and back our local industries. With combined authorities now in place, we have a chance to do exactly that and give residents and businesses confidence about this region’s future.”
Mayor Dame Andrea Jenkyns added: “Greater Lincolnshire is the backbone of the United Kingdom. We feed Britain, we power Britain, and we defend Britain. We are one team, we are standing tall, and we are ready to outpace the competition. Greater Lincolnshire is open for business, let’s get to work.”
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