Solent Freeport has invested £6.7 million in seed capital funding to support six projects in the region.
It is the latest tranche of awards from the £25 million in funding which is provided by the government to each of England’s eight freeports.
The purpose is to address infrastructure gaps in freeport locations and create the right physical conditions to encourage private sector investment.
Solent Freeport projects include:
Redbridge investment site to deliver an increase in the number of containers transported by rail, build an HGV welfare facility, generate additional HGV lane capacity and create the infrastructure for electric HGVs.
Support for the development of the outline business case by Hampshire County Council for A326 improvements in the Totton and Dibden areas.
Investment in enabling works to facilitate commercial development at Dunsbury Park, industrial and manufacturing business park at Havant.
Marchwood Port investment to fund enabling works including costs associated with demolition, earthworks, biodiversity net gain, Section 278 and highways, local highways improvements and main gate security and services.
Portsmouth International Port – construction of a Freeports Customs Zone adjacent to the Border Control Point (BCP) building, along with the demolition of the Sydenham building and an upgrade of the Rudmore Square junction to create a right-hand turn.
Support towards the technical design and planning application for Navigator Quarter, a 112-acre tax site adjacent to Southampton Airport which will provide a state-of-the-art research, manufacturing and industrial facilities.
Brian Johnson, Solent Freeport chair, said:
“National seed capital funding is vital to support proposals and developments which in turn bring further growth an investment into the region."
“Enhancing strategic infrastructure within the Solent Freeport area will enable key partner organisations to further optimise their operations and help boost our ongoing plans to deliver long-term economic prosperity."
“This funding announcement is another illustration of our ambitious plans to attract millions of pounds of inward investment and create thousands of jobs for the population of the wider Solent region."
“We take our role in approving this significant funding very seriously as it is public money we are distributing. Business cases for the six latest projects have been thoroughly scrutinised and investigated to ensure they meet the eligibility criteria.”
Solent Freeport is one of eight areas of England that have been created by government to boost investment into parts of the country that have historically missed out, benefitting from a generous package of incentives.
It will enable the region to capitalise on its strengths in a highly competitive global market and ensure the unique geographic advantage of the region is maximised for UK plc. A strong track record of international trade through the Solent already evidences credentials as the nation’s global gateway.
Land earmarked for tax sites includes the Navigator Quarter near Southampton Airport, a development site in Southampton’s Western Docks, the Dunsbury Park business campus just north of Portsmouth, and locations along Southampton Water and the Fawley Waterside.
The main customs sites are Solent Gateway on Southampton Water and Portsmouth International Port.