The business case for the Plymouth Freeport and South Devon has been submitted to the government and the region now expects a windfall of several million pounds.

The plans aim to create what will be called a Plymouth and South Devon Free Zone, which will hopefully unlock huge public and private sector investment and potentially create thousands of jobs.

Plymouth City Council, in partnership with South Hams District Council and Devon County Council, submitted the business plan document to the government after months of close collaboration between the public and private sectors to develop a dossier that helps local, national and international businesses take advantage of the advantages of being part of the region’s only free port.

Learn more about the Plymouth Freeport

The business case presentation of Plymouth and South Devon Freezone focuses on the city’s high value-added advanced engineering and manufacturing sectors and builds on Plymouth’s strengths in the areas of and defense and further develop opportunities in the space sector. He sees the region as a regional hub for trade and investment, jobs and regeneration, which will be engaged in clean growth.

A free port is a designated area within UK borders where different economic regulations apply. The Plymouth and South Devon Free Zone meets HM government criteria to be within 45km of Plymouth Harbor and as such includes three key sites at Devonport’s South Yard, Langage and Sherford.

The government wants to develop a very ambitious and leading free port model that will include a comprehensive package of measures, including tax breaks, customs, trade rate retention, planning, regeneration, innovation and support for trade and investment.

Plymouth and South Devon are just one of eight free ports currently on offer in England and the only one in the South West region.

Cllr Nick Kelly, Head of Plymouth City Council, said: “The FTZ is an extremely exciting opportunity for Plymouth and the surrounding area. This will allow us to leverage our existing strengths to drive economic growth across the region, unlock millions of pounds of public and private investment, and enable us to build back better. All with green, cleanliness and innovation at its heart.

Councilor Judy Pearce, Head of South Hams District Council, said: “Freezone’s business case presentation demonstrates that by working with our neighbors in Plymouth City Council and with Devon County Council, we continue to commit to leveling the regional economy, providing jobs. opportunities for the local population and an innovative environment for new businesses to thrive. Work across borders for the good of all.

John Hart, Head of Devon County Council, said: “Our proposals provide a unique model that has the potential to benefit local businesses and generate high quality jobs for the local population.

“The investment opportunities offered by the free zone would boost our economic growth after the pandemic and help us achieve a strong and sustainable, clean and green recovery.

“This is a great example of three councils cooperating with government for the benefit of local people and local businesses. “

Karl Tucker, President of the Heart of the South West LEP, said: “Plymouth and South Devon enjoy real longevity as pioneers in the navy and navy and, through the Ocean Futures prospectus, we have defined a forward-looking vision of research, innovation and technology transfer that directly delivers to net zero and upgrading.

“The Plymouth and South Devon Free Zone is an important part of this vision and will specifically support key maritime and low-carbon companies in the region, while attracting new investment and jobs. So we really welcome this important milestone and look forward to securing a fully operational facility in 2022. ”

Luxury boatbuilder Princess Yachts has already announced plans to build another factory in the Plymouth Freeport area so it can produce more ships, employ more people and fill a $ 1 billion order book.

The manufacturer is considering a new production facility at its base in South Yard, Devonport, which is part of the Plymouth Free Zone.

Adrian Bratt, Director of Princess Yachts, said: “This combined plan of Plymouth and South Devon continues to demonstrate how meaningful partnerships can really contribute to the upgrade program.

“Princess Yachts employs over 3,000 people in the city of Plymouth and exports to over 100 countries, we are delighted to be an integral part of this project and will continue to work with Plymouth City Council and all other stakeholders to maximize the opportunities that Freezone status provides.

Paul Foster, Managing Director of Babcock at its Devonport site, said: “The proposed FTZ aligns well with our own aspirations to support Plymouth’s long-term prosperity and offers potential opportunities to work with our customers and our supply chain to further develop our business and deliver broader benefits to the community.

Business Live’s Southwestern business reporter is William Telford. William has over a decade of experience reporting on the business scene in Plymouth and the South West. It is based in Plymouth but covers the entire region.

To contact William: Email: [email protected] – Phone: 01752 293116 – Mob: 07584 594052 – Twitter: @WTelfordHerald – LinkedIn: – Facebook:

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Thousands of new jobs are expected to be created in the first years of operation of the free zone in a range of skills, trades and occupations, including science, engineering and logistics.

As part of a series of stakeholder events, the Devon & Plymouth Chamber of Commerce and the Plymouth & South Devon Free Zone are co-hosting a business event on Friday 3 December. This event will be an opportunity to learn more about the free zone, skills, supply chain and broader benefits for the city and its surroundings for its needs. The full business case for the Plymouth and South Devon Free Zone will be submitted in mid-April 2022 and the Free Zone is expected to launch in the summer of 2022.

Learn more about Princess Yachts

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