Stena Line announces Anglesey Freeport bid to boost Holyhead and North Wales
Stena Line today announced that, in partnership with Anglesey County Council, that it is to submit a major Freeport bid to bring prosperity and an economic boost to North Wales.
The company has invested in a major 213-acre site, with the existing port and a number of sites across Anglesey, will lead to wide-ranging benefits to many parts of the Region’s economy.
Freeports remove barriers to trade and provide easements that simplify how businesses can operate. According to initial modelling estimates, the freeport would attract £1bn of much-needed investment, including new, high-salary jobs, in the range of 3,500-13,000 across the region.
The bid has the backing of 17 major businesses from a range of sectors and industries, including Rolls Royce, Bechtel, and Last Energy, along with major educational partners such as Bangor University.
It would see the establishment of a secure customs zone at Holyhead and other sites on Anglesey with special tax and tariff arrangements designed to attract major domestic and international investment.
If successful, the bid is predicted to return Holyhead to pre-Brexit levels of trade and cement the area as a hub for innovation in trade and clean energy, with industry-leading initiatives along its coastline driving the UK towards its net zero objectives.
Ian Hampton, Chief Operating Officer and Executive Director at Stena Line said:
“Stena Line is determined to see a transformation in investment and economic activity for the Anglesey community. We have been part of this community for over 27 years and want to see this bid succeed. We know it can bring in transformational investment, drive innovation and create high-skilled, high-wage, high-value jobs. It can cement the region as a hub of global trading excellence.”
“The freeport has many different elements. As well as manufacturing hub it can become a world leader in blue innovation, help the realise the successful vision of the Energy Island Programme and we want to see the establishment of World Customs Academy on the Ynys Môn.”
The formal bid will be submitted this week to the UK and Welsh Governments.
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