One of the most exciting aspects of the Humber’s success in gaining Freeport status recently is the huge amount of developable land that we have to offer around the region. It was a key factor in helping to get the Humber bid to be approved and it will be an enticing prospect for future investors.
The Humber has three Freeport Tax Assisted Zones, which offer significant tax incentives for inward investors looking for land to develop new facilities in manufacturing, processing and research and development.
Within the Humber Freeport Tax Assisted Zone areas, there is land owned by ABLE that is earmarked for a new offshore wind facility, helping to further the Humber’s position as the dominant area for offshore wind not just in the UK but worldwide. Across in Goole, inside the Tax Zone there is land that will be focussed on new manufacturing and supply to support the huge new Siemens Rail factory currently being built next door.
Within the Hull East Tax Zone, there are a collection of different parcels of land, each with exciting prospects for future growth. Siemens Gamesa have land inside the Zone to support the expansion of their existing offshore wind factory. The Saltend Chemicals Park is also inside the Zone and their Freeport land has already attracted the investment of Pensana PLC for a new Rare Earth Metal processing facility that will supply the electric vehicle and wind turbine markets, bringing hundreds of new jobs to the area. The Yorkshire Energy Park is within the Tax Zone too, with 88 acres of developable space for investors looking to cluster to support growth in green energy jobs.
Finally in the Hull East Tax Assisted Zone, is Associated British Ports’ key development site, known as the Humber International Enterprise Park. The 453 acres of prime land includes 212 acres located within the East Hull Freeport Tax Zone, adjacent to the Port of Hull. The site has recently received planning approval and offers 4.25 million square feet of developable land for manufacturing, logistics development and industrial use. It is arguably the premier development site in the North of England at present and offers huge potential to support business growth. Port-centric manufacturers and distributors will have easy access to import and export commodities while benefiting from an excellent potential workforce from Hull, East Riding, and the surrounding areas.
Many parts of the UK have land which is ripe for development. However, the common thread for all the sites that make the Humber special is their proximity to ABP’s ports. Having land close to ports, which bring strong access to supply chains and international markets, is a key selling point that will attract investors and bring many thousands of jobs to the area.
Opportunity Humber, the new grouping of public and private sectors partners that have come together, backed by the Government, is very well placed to help the region to seize the opportunities that these developable lands offer. It could be the catalyst that triggers activity on these sites and puts the Humber first in the queue for investment. It is down to the leaders of the region to make the most of this chance, or we risk losing out to other areas who are just as eager to grow.
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