The government has approved the outline of the business case for Liverpool City Region Freeport.

Now, the final stage of development is to submit a full business case later this month (April).

Assuming it is approved in the spring, the new Freeport will receive £25million in funding and open in early summer, boosting the city region’s post-pandemic economic recovery.

The Liverpool City area is one of England’s eight free ports. Its status was confirmed by the Chancellor in his budget in March last year.

Free ports will allow companies to trade under different customs rules.

They are expected to be hubs of business and enterprise that have the potential to create thousands of jobs, help regenerate communities and establish Great Britain’s post-Brexit place -Brittany in the world.

Steve Rotheram, Mayor of Liverpool City Region, said: “The creation of the Liverpool City Region helps to cement our status as a leader in global trade and industry, and will help us attract critical overseas investment and create well-paid, highly skilled jobs. Our Freeport is expected to have the potential to add a further £850 million to the local economy and will help us build on some of our existing world-class strengths.

“But for us, it means much more than that. Throughout this journey, I have asked for guarantees to ensure that we will use our Freeport as a force for good, to help build an economy that works for everyone in our region.

“I want to attract investors to our region who believe in and support our local ambitions – those who will help us protect workers’ rights and uphold standards, and who want to work with us to regenerate and invest in areas that need it the most.

He added: “Our Freeport will provide many opportunities for the Liverpool City region. My vision is to ensure that there is purpose behind this status – one that not only boosts our economy, but fuels greater social mobility, innovation and inclusion for our entire region.

John Lucy, Director of Liverpool City Region Freeport, said: “The acceptance of our business case is a hugely important step in getting our Freeport up and running and attracting business to take advantage of the full range of benefits we can offer. , which, in turn, will create thousands of sustainable and quality jobs.

“We will attract additional trade through the Port of Liverpool, but the Freeport will bring benefits to the whole of the Liverpool City area, extending as it does over much of our region with a number of sites offering business benefits.”

He added: “There is a comprehensive measure of packages which includes tax relief and support for customs, trade tariffs, planning, regeneration, R&D and upskilling, to name a few. At the same time, new technologies and sustainable innovations take center stage and provide answers to the challenges faced by many large, complex companies. »

Liverpool City Region Freeport will be a designated area covering 45km, where a range of economic incentives will be available, covering customs, trade tariffs, planning, regeneration, innovation and trade and investment support.

LCR Freeport will create a low-carbon, multi-modal, multi-gateway business platform with a network of sites attracting high-value investment, supporting growth and jobs to regenerate communities through cutting-edge industry , innovation and collaboration.

Centered on a mix of infrastructure, including the deep-water container terminal at the Port of Liverpool – the UK’s largest west-facing port, which already handles 45% of US trade – it t is the main coastal access point to the UK’s largest concentration of manufacturing.

Targeting key sectors such as automotive, biomanufacturing/pharma and marine, LCR Freeport will also support and attract new low-carbon advanced manufacturing, logistics and energy industries.

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