The Welsh Government has announced that the new Ynys Mon Freeport special status has gone live.
Ynys Mon (Anglesey) joins the other freeport in Wales, the Celtic Freeport of Port Talbot and Milford Haven, which went live in November. The Welsh freeports aim to attract £6.5 billion in investment and create around 17,000 jobs.
The freeports will form special zones for business with tax and customs benefits, and funding for key infrastructure and skills projects. The Welsh freeports are distinctive as they include fair work, union recognition and the involvement of local authorities.
Freeports are designed to promote regeneration and the creation of high-quality jobs. They also aim to become a national hub for global trade and investment across the economy, and foster an innovative environment.
The Welsh freeports are focused on boosting the distinct strengths of each area, exploiting opportunities from offshore wind and marine energy to advanced manufacturing and innovation.
The Ynys Mon Freeport consists of sites at Prosperity Park and Parc Cybi in Holyhead, M-Sparc near Gaerwen and two brownfield sites on Llangefni Industrial Estate.
Ian Davies, Head of UK Port Authorities at Stena Line, said:
“We are delighted the tax sites have now been approved, allowing us to take the next step forward in bringing Anglesey Freeport to life. The designation of the tax sites will allow us to attract investment and boost economic growth across North Wales. I look forward to working with communities on Anglesey and local stakeholders as we continue our work to bring jobs and innovative technology to Anglesey.”
Isle of Anglesey County Council Chief Executive Dylan J. Williams added:
“The designation of Anglesey Freeport’s tax sites and approval of the Outline Business Case are two important steps towards securing approval of our full business case (FBC), and unlocking vital government funding. As the project’s Accountable Body, the county council will be managing around £25 million, which will act as an enabler to provide businesses located within Anglesey Freeport with tax breaks and other benefits.
“Our partnership with Stena Line has already seen considerable work, time and effort invested in delivering Anglesey Freeport. Working closely with both governments and other key partners locally and regionally, we will continue to make progress to deliver the project, significant investment and long-term economic opportunities for the island and wider North Wales region.”
First Minister Eluned Morgan said:
“This is great news for Ynys Mon, which is especially welcome following the recent storm damage which hit Holyhead.
“One of the priorities I set out when I became First Minister was to create green jobs and growth. I’m proud that our Welsh freeports will not only attract investment and jobs, they are also committed to promoting fair work and environmental sustainability.”
Cabinet Secretary for the Economy, Rebecca Evans, said:
“This will make a real difference in terms of supporting sustained growth and the creation of high-quality jobs across North Wales.
“We are working closely with the UK government to finalise the freeports’ business cases, which will result in up to £25 million seed capital for each freeport as they move fully into delivery.”
Welsh Secretary Jo Stevens said:
“This is a fantastic day for Wales with both of our freeports now open for business and beginning the work of generating investment, opportunity and growth.
“Our £26 million investment in the Anglesey freeport will help drive our vision for this part of Wales, bringing thousands of new jobs and boosting the industries of the future.”
