Anglesey Freeport, a partnership between Stena Line and Isle of Anglesey County Council (IACC), is pleased to announce that the UK and Welsh government have now approved its Full Business Case. 

This follows the approval of the Freeport’s Outline Business Case earlier in the year, which designated two major tax sites across the island. New businesses located within ‘Anglesey Prosperity Zone,’ and the ‘Central Anglesey Tax Sites’, benefit from special tax reliefs, attracting investment and boosting economic growth across North Wales.

With both business cases approved, all required approvals are now in place, with the Freeport able to transition to its delivery phase. The approval of the Full Business Case will shortly unlock £25mil in Government seed capital, enabling the establishment of the Freeport as a business entity. Approval of the North Anglesey Tax Site is expected later this year.

Anglesey Freeport will deliver upon the Welsh and UK Government’s shared objectives around the broader Freeport Programme, including ensuring the Freeport operates as a hub for global trade, innovation and investment, supporting local talent and embracing new employment opportunities, particularly within low-carbon energy.

Additionally, outline planning permission will shortly be determined for a proposed new technology park at Prosperity Parc, the former Anglesey Aluminium site which sits within the ‘Anglesey Prosperity Zone’. At its peak, the proposals are forecast to generate up to £578m of growth in the local economy each year, the equivalent of a third of Anglesey’s current economy, and create around 1,200 jobs.