The Welsh Government has announced that the new Ynys Mon Freeport special status has gone live this week.
Ynys Mon (Anglesey) joins the other freeport in Wales, the Celtic Freeport of Port Talbot and Milford Haven, which went live in November.
The freeports will form special zones for business with tax and customs benefits, and funding for key infrastructure and skills projects. The Welsh freeports are distinctive as they include fair work, union recognition and the involvement of local authorities.
Freeports are designed to promote regeneration and the creation of high-quality jobs. They also aim to become a national hub for global trade and investment across the economy, and foster an innovative environment.
The Welsh freeports are focused on boosting the distinct strengths of each area, exploiting opportunities from offshore wind and marine energy to advanced manufacturing and innovation.
The Ynys Mon Freeport consists of sites at Prosperity Park and Parc Cybi in Holyhead, M-Sparc near Gaerwen and two brownfield sites on Llangefni Industrial Estate.
The Welsh freeports aim to attract £6.5 billion in investment and create around 17,000 jobs.
First Minister Eluned Morgan said:
“This is great news for Ynys Mon, which is especially welcome following the recent storm damage which hit Holyhead.
“One of the priorities I set out when I became First Minister was to create green jobs and growth. I’m proud that our Welsh freeports will not only attract investment and jobs, they are also committed to promoting fair work and environmental sustainability.”
Cabinet Secretary for the Economy, Rebecca Evans, said:
“This will make a real difference in terms of supporting sustained growth and the creation of high-quality jobs across North Wales.
“We are working closely with the UK Government to finalise the freeports’ business cases, which will result in up to £25m seed capital for each freeport as they move fully into delivery.”
Welsh Secretary Jo Stevens said:
“This is a fantastic day for Wales with both of our freeports now open for business and beginning the work of generating investment, opportunity and growth.
“Our £26 million investment in the Anglesey freeport will help drive our vision for this part of Wales, bringing thousands of new jobs and boosting the industries of the future.”
