Freeport East – centred around Felixstowe and Harwich Ports – will use its new status to harness local clean energy from offshore and other carbon-free sources to drive good green growth.

Its long-term, sustainable focuses for growth include maritime technology, offshore wind energy and other renewables-related technology. As well as its innovation in agri-tech, it will also be the country’s primary green hydrogen power hub.

Thanks to its new status, Freeport East expects to contribute £5bn to GVA over five years, and believes in the region of 13,500 new jobs will be created as a result of increased trade plus up to 1.3 million tonnes of increased international trade volumes.

George Kieffer, Chairman of the Freeport East Project Board, said: “We are delighted to have been chosen by the Chancellor as one of the first new Freeports in the UK for a number of years. Freeport East offers a unique opportunity to build a truly global trade hub at the same time as accelerating opportunities in green energy and helping level-up the economy. We look forward to working with Government to further develop our business plan and to realising the potential that this opportunity represents.”

The total Freeport area extends out from the twin ports, with a total diameter of 45km, with tax and/or customs sites earmarked for development inland. These are at Horsley Cross, Bathside Bay, Great Blakenham, Gateway 14, the Parker and Anzani Avenue areas of Felixstowe and the Port of Felixstowe Logistics Park.

Hutchison Ports own both Felixstowe and Harwich and its managing director Clemence Cheng believed their bid was a natural choice to win one of the eight spots.

He said: “Freeport East is the perfect location to develop a new Freeport. Its position on the main global shipping routes, and with frequent services over to Europe, makes it the ideal place to attract inward investment.

“It has 50% of the UK’s offshore wind capacity on its doorstep and, working with our partners we will help drive developments in green energy for use in the transport sector as well as across the wider economy.”

Freeport East is already working with Ryse-Hydrogen and EDF, operators and developers of the nearby Sizewell nuclear power station, to develop a Hydrogen Hub

“The PM has said the UK will be ‘putting a big bet on hydrogen’ and the Budget’s green light for the Freeport East Hydrogen Hub is a major step towards delivering on these words,” said Jo Bamford, Executive Chairman of Ryse-Hydrogen.

“The Freeport East Hydrogen Hub will support the creation of thousands of green jobs and feature innovative uses in hydrogen for zero emissions buses, construction equipment, marine and agriculture. Crucially, these UK-made Net Zero technologies can be in use within 12 months and will place East Anglia at the forefront of the global hydrogen economy.”

BUSINESSES located within the freeport zones will benefit from having no tariffs to pay on imports and exports unless they are exported into the UK. Other major benefits include tax breaks, including no stamp duty, full rebates for construction and machinery investment and five years of zero business rates.