Latest News | 2 March 2021
Derby gives its backing to Freeport bid as support grows
Support is growing for an inland Freeport to be created in the East Midlands, with Derby City Council being the latest to throw its weight behind the bid.
Last month, a consortium jointly led by the D2N2 Local Enterprise Partnership, along with its equivalent in Leicester and Leicestershire, applied to the Government to create an inland Freeport.
It would be based around the East Midlands Airport and Gateway Industrial Cluster (EMAGIC) in North West Leicestershire, Ratcliffe-on-Soar Power Station, in Nottinghamshire and the East Midlands Intermodal Park, in South Derbyshire.
Councillor Chris Poulter, leader of Derby City Council, said: “Any proposals which enable the East Midlands, and the UK as a whole, to more effectively trade internationally are, of course, synergistic with our aspirations for the future of Derby’s economy.
“We look forward to working with the Government, the private sector and our local partners, to leverage the full benefits of Freeport status.”
Freeports are designed to attract major domestic and international investment and have been used successfully in countries around the world to drive prosperity and boost trade.
The East Midlands Freeport bid is one of a significant number of ports and airports across the UK interested in becoming a Freeport, with all bids to be judged by an assessment panel this month, and decisions expected in spring.
If the Government backs the bid, it could create 60,000 new jobs and add over £2 billion to the local economy.
The East Midlands Freeport would offer a range of employment and skills opportunities across the region and strengthen connectivity across to all parts of the UK, stimulating investment and developing regional strengths in advanced manufacturing, automotive and logistics.
Councillor Poulter said: “Derby is a leading strategic engineering, manufacturing and innovation city.
“It is the most productive area in the UK, with a specialism in manufacturing.
“We are home to world class brands including Rolls-Royce, Alstom (formerly Bombardier Transportation) and Toyota Motor Manufacturing UK – all leading, technologically driven businesses serving global markets.”
The consortium behind the bid includes private sector businesses and local authorities, with support from universities, business groups and the proposed Midlands Engine Development Corporation.
Last month, MPs from all parties across the East Midlands united behind the bid with a video, which urges the Government to back the proposal.
Elizabeth Fagan, chair of D2N2, said: “I’m delighted with the support we have received from across the region.
“Through strong collaboration and partnerships, we have assembled a compelling bid that will deliver a landmark opportunity to regenerate our communities, create thousands of jobs and green growth.”
