News – Executive: Councillors to consider key Forth Green Freeport policy
At a meeting of the Executive on 22 August, councillors will be asked to approve the submission of the full business case for the Forth Green Freeport[1] (FGF) to the UK and Scottish Governments.
If agreed, the business case - detailing how the FGF will drive GBP7.9bn in private and public investment, generate GBP8.1bn in gross value added, and create up to 34,500 jobs - will be submitted by the FGF consortium on 30 August, with approval anticipated in early 2025. Falkirk Council plays a key role within the FGF as the Accountable Body and programme managers. Focusing on key target sectors such as offshore wind, hydrogen, sustainable fuels, modular manufacturing, and logistics, the FGF will support the re-industrialisation of central Scotland, large-scale economic regeneration, and the Just Transition.
This long-term project aims to deliver real benefits to local communities through economic growth, skills development and training, and access to high-quality, green jobs. Members of the Executive will also be asked to consider adopting a key feature of the FGF - the Non-Domestic Rates (NDR) relief policy. This policy aims to make Grangemouth, which is one of the FGF's designated tax sites, an attractive location for green businesses.
Falkirk Council will manage applications for NDR relief, ensuring businesses align with the FGF principles of fair work and carbon reduction, and promote economic growth that supports the area's transition to net zero. Developed by the council in partnership with the City of Edinburgh and Fife councils, the NDR relief policy offers businesses up to 100% relief on non-domestic rates for new developments within the tax sites. By reducing operational costs, the NDR relief is designed to attract significant investments in renewable energy, carbon capture and storage, biofuel, and hydrogen production.
This game-changing initiative is aimed at green enterprises looking to build from scratch, occupy existing buildings, or make significant improvements to properties within an FGF tax site. Malcolm Bennie, Director of Place Services, said: "The Forth Green Freeport is a transformative opportunity for Grangemouth and the wider region.
The NDR relief policy is a cornerstone of the FGF strategy to attract green businesses and significant investment, which will create high-quality jobs and drive sustainable economic growth.
It is now down to Elected Members to determine if this is best way forward for Falkirk Council and the local area."
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References
- ^ Forth Green Freeport (forthgreenfreeport.com)