Freeport could bring 60k jobs
"Crucially, it provides significant opportunities for Nissan and the International Advanced Manufacturing Park.”
Economic analysis by experts Vivid Economics shows the plan would build on existing regional strengths, including the automotive and advanced manufacturing sectors, clean energy industrial base, logistics and digital technologies.
Port of Tyne CEO and Interim Chair of the North East EnglandFreeportMattBeeton, said: “Our model offers an unrivalled, ‘best of all worlds’ approach,unitingtheprivateand public sectors to provide the region with an exceptional opportunity to benefit from the levelling up potential of digitally enabled economic zones.
The Freeport will include three significant tax sites, totallingapproximately600hectares, on which businesses will be able to receive a range of special incentives to invest and grow.
It will be led by a collaborative Governance Board which will bring together leaders from business, local government, higher education and the ports.
Port of Blyth’s Martin Lawlor added: “This bid consortium offers unrivalled clean growthandmanufacturingexpertise,andwehavethevision, ambition and experience to make this a flagship Freeport the UK can be truly proud of."