New roads and buildings planned as part of Plymouth and South Devon freeport
New roads, a factory extension and a cycle bridge are among projects being funded as part of Plymouth and South Devon Freeport. The South West 'free zone' is one of 12 areas designated by the previous government that will be exempt from certain taxes and customs duties in a bid to boost the economy. The West of England's freeport is being developed by Plymouth City Council, South Hams District Council, Devon County Council, and the private sector.
It has been awarded GBP25m from central government, which has now been drawn down, with seed capital-funded projects already underway or due to start soon. The funding was allocated to each English freeport to address infrastructure gaps and create the right conditions to encourage private sector investment. Projects to receive finance as part of Plymouth and South Devon freeport include new council buildings in Devonport; a factory extension for Princess Yachts; various new roads; drainage and utilities infrastructure; a pedestrian and cycle bridge across the A38; and freight and wharf schemes.
Richard May, chief executive of Plymouth and South Devon Freeport, said: "By supporting these crucial infrastructure projects, the freeport is proving itself as the catalyst for stimulating economic growth, unlocking potential, attracting investment, and creating jobs for the people of Plymouth, South Devon and the wider region." Plymouth City Council's leader Tudor Evans added: "The programme of funding couldn't be clearer in its aims to nudge infrastructure projects forwards so that we seize the incredible opportunities bubbling away in our key business sectors. These schemes of buildings, wharfs, power, roads and land will create careers, supply chains, collaboration, put money in people's wallets and help businesses to flourish."
Freeports, which are being backed by the new Labour administration, are aimed at unlocking investment and creating jobs. The areas designated will receive tax benefits until September 2031. Rufus Gilbert, Devon County Council cabinet member for economic recovery and skills, said: "Devon County Council's infrastructure schemes to develop an access road off Holland Road and a pedestrian/cycle bridge over the A38 will both improve access to Langage.
A lot of work has already gone into preparing these key developments and there can be no doubt this infrastructure is critical to unlocking economic growth at the freeport sites."
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