New Humber Freeport company on way after Treasury approval - with 7,000 jobs on horizon

It followed a bid led by port operator ABP and backed by local councils and business leaders.

It had initially been hoped the newly-formed company to run the freeport would be up and running by summer 2021.

In Parliament on Tuesday, Cleethorpes MP Martin Vickers asked whether Treasury sign-off for the freeport had yet been granted.

He said: “The county of Lincolnshire has great opportunities for economic development in both rural and urban areas. In particular, the Cleethorpes constituency is a major centre for the renewable energy sector and contains a major port at Immingham. Freeport status has been granted for the Humber freeport, but I understand that we are awaiting final Treasury sign-off.”

In response, Chief Secretary to the Treasury John Glen said: “I am pleased to confirm that the full business case for the Humber freeport has now been conditionally approved by the Treasury, with full approval subject to the customs site being designated and the freeport signing a memorandum of understanding with the Department for Levelling Up, Housing and Communities.

"The Humber freeport is already open for business, supporting the regeneration of the region by creating jobs and attracting new business investment.”

He added: “I am sorry that Treasury processes can sometimes appear tortuous.”

This announcement paves the way for the full set up of the Freeport Company and for the new body to focus on the delivery of the new jobs and investment planned for the area.

Humber Freeport Chairman Simon Bird said: “This is excellent news and means that the most important milestone on the journey to delivering new jobs and investment to the Humber has been passed.

"This has been a two and a half year project to get to this stage, involving a partnership of local authorities, business groups and universities.

"We have very exciting times ahead for the Humber area, with a plan to bring at least 7,000 new high-quality jobs and investment for years to come.”

David Gwynne, interim Chief Executive of the Humber Freeport, added: “Following the announcement, we will conclude the establishment of the new freeport company and look forward to the hard work to turn the business case vision into reality.”

Rob Walsh, Chief Executive of North East Lincolnshire Council, said: “This excellent news is the culmination of over two years of work involving a large partnership from across the Humber. I am delighted that North East Lincolnshire Council, as the accountable body for the Freeport, will now get to play our role in helping to make the new company as efficient and accountable as possible so that it can focus on delivering new jobs and transforming the area.”

The freeport will offer tax breaks as part of investment opportunities and will focus on the areas of East Hull, Goole and South Humber.