Following our successful bid for Freeport status, the Welsh and UK Governments have now approved the Full Business Case for Anglesey Freeport. This will shortly unlock £25mil in Government seed capital, enabling the establishment of the Freeport as a business entity.
Anglesey Freeport provides a unique investment opportunity for businesses considering their future operations, as well as bolstering Anglesey’s vibrant island economy and the prosperity of communities across North Wales.
Anglesey Freeport is committed to delivering upon the Welsh and UK Government’s shared objectives around the broader freeport programme, including in ensuring the Freeport operates as a hub for global trade, innovation and investment, supporting local talent and embracing new employment opportunities.
Spearheaded by the principal partners of the Freeport – Stena Line and Isle of Anglesey County Council – Anglesey Freeport will help support the economic prosperity of the North Wales economy, providing employment and social benefits which help support the development of local communities. The Freeport’s exclusive customs and tax arrangements, local talent, prestigious education and skills establishments – as well as unwavering commitment to research and innovation – make it not only the perfect partner for businesses of all size, but also central to the long-term competitiveness of UK plc.
Anglesey Freeport principal partners and its governing board will ensure that the Freeport complies with the strict employment guidelines and regulations as set out by the Welsh and UK Government’s. In particular, the Freeport will continue to be compliant with the Welsh Government’s net zero commitments as well as the Well-being of Future Generations (Wales) Act of 2015.
Where we are
We are pleased that the UK and Welsh Governments have now approved the Full Business Case (FBC) for Anglesey Freeport. This follows the approval of the Freeport’s outline business case earlier in the year, which designated two major tax sites across the island. 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.
Why Anglesey?
Anglesey Freeport enjoys exceptional backing from the Welsh and UK governments, with initial seed funding of up to £26m to ensure its success. This endorsement was evident during the Freeport’s announcement, which was attended by the then-Prime Minister, Rishi Sunak, then-First Minister, Mark Drakeford, and then-Secretary of State for Wales, David TC Davies.
The Freeport has received major local and bi-partisan political support. Over 2,000 local residents have registered their support for the project, over 400 writing to support the bid, recognising that for too long Anglesey has been deprived of economic investment. The Freeport has also received support from the Welsh Government, the previous Conservative UK Government and from Plaid Cymru.
To learn more about how the Freeport will support local communities, protect the Islands proud heritage and work with existing programmes to boost sustainable development and long-term skills, see here.
To learn more about the unique tax, customs and trading arrangements which make Anglesey Freeport an outstanding partner for your business, see here.
M-SParc Science Park will play an important role as a Freeport tax site, and is central to the development and delivery of our Freeport skills programme.
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Contact us
The Welsh and UK Governments have approved the Full Business Case for the Freeport marking a pivotal moment in the Freeport’s development.
As part of this ongoing process, Stena Line and IACC are keen to work with businesses and potential investors who are keen to develop operations within the Freeport’s special customs and tax sites, and benefit from the commercial advantages which the project will bring.
If your business is interested in benefiting from the unique opportunities the Freeport offers – ranging from streamlined manufacturing processes, regulatory easements and tax incentives – please fill out the form and the team will come back to you.
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