How Freeports and green initiatives can support the Humber - Stephen Parnaby OBE

Local growth and European structural funds have played a vital part in supporting economic development in places like the Humber. The £204m we have invested on the ground from these funds since 2011 has so far attracted over £390m of other direct investment – supporting the creation of over 7,000 new jobs, 1,400 new homes and the upskilling of over 42,000 people.

Our delivery track record in the Humber is such that we have not just invested the funds we had allocated to us – we have gone back and secured a further £12m in EU funding that other areas were unable to use. But there is still a huge job to do.

With existing programmes ending over the coming years and an increasingly challenging economic situation, it is vital that these funds are replaced on at least the same scale, and placed in the hands of local leaders who know how to invest them best and at pace for their communities.

Although last week’s announcement was welcome, we must now wait until some time in the New Year for details of how these funds can be accessed for the next financial year – giving local areas little time to prepare. We need to see much more pace on this so people and businesses can benefit from the support needed to drive an economic recovery.

Two other recent announcements from the Government have the potential to have a huge impact on the Humber’s recovery from the pandemic’s economic shock.

The Humber LEP has long been working towards clean growth as a way to ensure a successful future for our region’s economy – taking steps to encourage clean energy production, associated manufacturing of key components for these industries, and decarbonisation of our existing industries.

Alongside this, we have also long been working to maximise the potential of our ports and manufacturing industries, which was enshrined in our Local Industrial Strategy.

The Prime Minister’s ten-point plan for a new ‘Green Industrial Revolution’ is pledged to mobilise £12bn of government investment to create and support up to 250,000 highly-skilled green jobs in the UK, and spur over three times as much private sector investment by 2030.

Meanwhile, Government has also opened the bidding process to establish at least ten new Freeports, intended to support the regeneration of local areas and boost trade and investment.

The levelling up the Government is aiming for in both its plan for a green economy and its plan for Freeports is exactly what an area like the Humber – an industrial heartland home to four major ports and the highest-emitting industrial cluster in the country – should benefit from.

The Government’s green plan featured several key points that are pertinent to future growth in the Humber economy. These include offshore wind, hydrogen development, Jet Zero and cleaner maritime and carbon capture.

The Humber LEP is also working with businesses, local authorities and other partners to develop ambitious plans for a Freeport in the region that will target advanced low carbon manufacturing and high-quality new jobs.

With those granted Freeport status benefiting from generous tax reliefs, simplified customs procedures and wider government support, this could provide a welcome jobs boost and would align with our priorities to maximise opportunities for the Humber ports.

Stephen Parnaby OBE is chairman of the Humber LEP.

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James Mitchinson