Last reviewed 24 November 2021
A range of financial incentives are being made available aiming to make it economically attractive for businesses to locate at Thames Freeport.
Anyone setting up a new manufacturing, clean energy or logistics business at the Freeport will be able to access economic benefits which are available across the three tax sites at Ford Dagenham, the Port of Tilbury and London Gateway’s Logistics Park.
Freeports are special areas within the UK’s borders where different economic regulations apply. These include a range of tax incentives, including business rates relief for five years, enhanced capital allowances, relief from stamp duty and exemption from employer national insurance contributions (NICs) for new and additional employees.
Businesses looking to expand are being urged to take advantage of the tax benefits of relocating to the Freeport and being part of a customs zone which will enable them to continue to have low friction trade processes with the EU and global markets.
Thames Freeport chairwoman, Ruth Kelly, said: “Thames Freeport is open for business. This package of measures potentially reduces property ownership costs for new businesses by 50%, offering a massive fillip to our 1700-acre development platform – much with planning consent.”
The accelerated development of these sites will, she went on, bring significant economic and regeneration benefits to the communities and businesses based along the Thames estuary corridor.
More details of the Thames sites can be found at http://thamesfreeport.com.
“No location can match Thames Freeport for access to rail, road, river and international maritime routes,” Ms Kelly concluded. “Comprising Britain’s most globally connected ports and logistics park and Ford’s world-class engine plant, it represents a faster, more cost-effective, and more environmentally responsible way to service domestic and European markets.”