Major new details about Solent Freeport bid worth billions to the region to be revealed at summit event

By Tom Cotterill
Published 31st May 2022, 16:11 BST
Dunsbury Park is now a live tax site. Part of the Portsmouth Gateway Cluster, Dunsbury Park is a key location within the Solent Freeport. Tax incentives include 100 per cent business rate relief for five years, enhanced capital allowances, leasehold stamp duty tax reliefs and three years employers NI relief.Dunsbury Park is now a live tax site. Part of the Portsmouth Gateway Cluster, Dunsbury Park is a key location within the Solent Freeport. Tax incentives include 100 per cent business rate relief for five years, enhanced capital allowances, leasehold stamp duty tax reliefs and three years employers NI relief.
Dunsbury Park is now a live tax site. Part of the Portsmouth Gateway Cluster, Dunsbury Park is a key location within the Solent Freeport. Tax incentives include 100 per cent business rate relief for five years, enhanced capital allowances, leasehold stamp duty tax reliefs and three years employers NI relief.
A LUCRATIVE economic plan that could bring ‘billions of pounds’ to the UK and ‘put the Solent firmly on the map’ is set to be unveiled next week.

Maritime leaders, civic chiefs and business bigwigs are all set to converge at this year’s Solent Summit, next Wednesday.

The event will see the launch of the Solent Freeport, bringing new details about the ‘once-in-a-generation’ scheme, worth an estimated £2bn to the region.

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The summit is also expected to unveil the new long-term economic strategy by the Solent Local Enterprise Partnership (LEP) to boost trade across the Portsmouth area.

It comes after Whitehall formally approved the Solent Freeport bid and a business case was submitted by council leaders, earlier this year.

As previously reported, the freeport aims to boost the economy and trade around shipping ports or airports.

Under the proposals, Portsmouth International Port would become a custom site while the Dunsbury Park business centre, in Havant, would become a low-tax site.

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It’s estimated the freeport deal could create almost 57,000 jobs with 3,500 of these coming at Dunsbury Park.

Brian Johnson, chairman of the Solent Freeport, said: ‘The Solent Freeport is a once-in-a-generation opportunity which will benefit not only our region but the whole of the UK.

‘The Solent’s location makes it the UK’s most important gateway to European and global markets; and establishing a freeport here will accelerate the creation of high-quality employment space, with investment specifically targeted at state-of-the-art growth sectors and ground-breaking approaches to decarbonisation and green innovation.’

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The Solent Summit will be a chance for investors and businesses to find out more about the opportunities available through the freeport, as well as for local residents to get an idea what the freeport will mean for them.

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Rachael Randall, chairman of the Solent LEP, said: ‘Like many coastal communities, the Solent faces challenges in terms of productivity and our Solent 2050 strategy outlines how we will work with partners to level up our region, create jobs, drive innovation and ensure a prosperous economy where communities thrive.’

The summit will be held at the Horizon Cruise Terminal, in Southampton. For details see https://solentlep.org.uk/solent-summit/

To register for to attend, see: https://eventpilot.evolutive.co.uk/eventDetails.aspx?siteId=474&eventNo=632688.

Related topics:Portsmouth International PortPortsmouth

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