UK's first Freeports opened
The Freeports in Teesside, Plymouth and South Devon and Solent are now fully operational after receiving the final government sign off.
The Freeports will receive up to £25 million seed funding and potentially tens of millions of pounds in locally retained business rates in an attempt upgrade local infrastructure and stimulate regeneration as part of the government's levelling up plans.
Businesses that operate in Freeports will be able to take advantage of tax incentives. It is hoped business will bring jobs to the area.
Levelling Up Minister Dehenna Davison said: "We are taking full advantage of the freedoms of leaving the EU and these Freeports in Teesside, Plymouth and South Devon and Solent will attract new business to often overlooked areas, creating thousands of jobs.
"Now they are up and running, these Freeports will harness local expertise to grow vital industries and turbocharge our national economy.
"Freeports will generate prosperity and spread opportunity throughout the UK by driving innovation and throwing open our doors to trade with the world."
Image: Mick Garratt / Container Terminal, Teesport
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