Plymouth and South Devon Freeport first to be given full green light.
Plymouth and South Devon Freeport is the first of eight Freeports to be given the full green light along with two others. The approval unlocks millions of pounds of grant seed funding and enables applicable businesses to join and take advantage of the Freeport status.
The Freeport is a dynamic public/private partnership between Devon County Council, Plymouth City Council, South Hams District Council and a wider range of stakeholders. It will enable innovators and investors from across the world to test, trial and take to market cutting edge technology and products.
Businesses that are part of the Freeport can take advantage of a range of tax and customs benefits and incentives to support growth, innovation and investment in the South West including business rates relief, employer National Insurance contributions rate relief, stamp duty land tax relief, capital allowances, VAT and tariff benefits and simplified import procedures.
Approval now enables interested businesses to begin taking the first steps to contracting, designing and planning their place within the Freeport with the Freeport team, landowners and partners and discuss the myriad of benefits this presents. Find out more
