Net zero, innovation and skills are at the core of the plans. And by incentivising businesses to do more, we will accelerate the great work already taking place.
This includes East Midlands Airport which is the first UK airport certified as carbon-neutral for its ground operations, SEGRO launching an electric shuttle bus and trialling smart building technology and Uniper’s plans for decarbonisation at Ratcliffe.
A combination of significant private sector led investment with public sector spend – including £25m of Government seed funding.
The freeport is expected to contribute around [£8.4 billion] to the East Midlands economy [over the next 30 years), support and create around 55,000 jobs and generate £1.5bn in additional business rates over 25 years – which can be spent benefiting local communities.
Following our successful bid, an outline business case has been submitted to the Government. A full business case is due to be submitted in December and our aim is to have the freeport up and running by March 2022.
We will be reaching out to communities in a number of ways over the coming months, including online events and newsletters, to explain the benefits that the freeport will bring, and to also invite ideas and feedback to help maximise those benefits for all.
The freeport promises new opportunities for businesses in the East Midlands, as well as the wider Midlands regions and beyond. By attracting new investment in a range of sectors such as advanced manufacturing and logistics, creating a hotbed for innovation and delivering new jobs, the potential for existing local business to benefit is huge, and we will be working hard to make sure that we maximise those benefits.