Monday, March 4, 2024

Thames Freeport one of the first to submit outline business case

THE council-backed Thames Freeport is one of the first to submit its outline business case to government.

Earlier this month Thurrock Council’s Cabinet once again backed the initiative that paves the way for the government officially awarding Freeport status. Thames Freeport was one of the first of the eight Freeports announced in March to take this next significant step.

The outline business case was submitted by DP World, Forth Ports and Ford today (Friday 30 July). It will see a Thames Freeport, with Thurrock at its heart, attract billions in private sector investment which will contribute to the delivery of many of the council’s objectives including economic growth, regeneration and levelling up for the benefit of residents and businesses across the borough.

Cllr Mark Coxshall, Cabinet Member for Regeneration, Strategic Planning and External Relationships, said: “Working alongside our private sector and London borough partners as well as the government we have developed a robust business case for the Thames Freeport to ensure we can be one of the first fully operational Freeports this year and cement our status as the ports capital of the UK.

“We want everyone to know that Thurrock is a leading player within the national economy and we are determined to seize this unique opportunity to level-up our communities and unlock countless opportunities for residents who live and work in our borough including thousands of new jobs on our doorstep.”

A Thames Freeport will generate more than £4.5billion in new public and private investment in jobs, skills, communities and infrastructure.

A full business case will be submitted in the autumn.


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