East Midlands: England's only inland freeport gets green light

East Midlands Airport is one of the freeport's three hubs

England's only inland freeport, around East Midlands Airport, has secured formal government approval.

The area between the airport, Ratcliffe-on-Soar power station and East Midlands Parkway is now fully operational, the government said.

Firms will be encouraged to invest by being given tax incentives which, it is claimed, will create thousands of jobs.

But residents living near the site have raised concerns about the impact of development in the area.

The government said the freeport would help encourage investment in the automotive, space, and satellites sectors, "generating thousands of jobs and boosting the local economy".

Levelling Up Minister Dehenna Davison said: "The East Midlands has a thriving manufacturing sector and we want to capitalise on those strengths while also developing new green growth industries.

"The East Midlands Freeport, the only inland freeport, is up and running and will bring high-quality jobs, investment and trading opportunities for businesses in the region."

Freeports aim to create economic activity - like trade, investment and jobs - near shipping ports or airports

Steve Griffiths, East Midlands Airport's managing director, said: "As the 'port' within the freeport, we welcome today's news.

"The freeport will provide a focal point around which the public and private sectors can collaborate to shape the future economic success of this region."

East Midlands Freeport (EMF) has estimated it will generate more than 28,000 new jobs.

EMF chair Nora Senior said: "Space Park Leicester has become the latest organisation to join an innovative, inland freeport designed to boost jobs and power the region's economy.

"Securing a customs site operator was the final piece of the jigsaw for the freeport and means that EMF can now officially open for business and become fully operational.

"EMF is focused on green tech and innovation and teaming up with the space sector will only attract more businesses to make the freeport their home."

The hub includes three tax sites - Ratcliffe-on-Soar power station, East Midlands Airport and Gateway Industrial Cluster (EMAGIC) and East Midlands Intermodal Park (EMIP), which is near the Toyota manufacturing plant.

It is the seventh freeport to become fully operational in England with four new freeports being recently named in Scotland and Wales.