Goole freeport tax site submitted to Government to unlock investment opportunities
The footprint for the freeport tax site in Goole has been submitted to Government, with the aim of unlocking prime inward investment opportunities.
The 200-hectares Goole freeport site, which is split into two plots separated by the M62 motorway, offers investors a range of highly-attractive benefits.
In recent years, Goole has established itself as an investment hotspot, attracting major developments by blue chip businesses including train builder Siemens Mobility and FTSE-listed chemicals specialist Croda.
It is expected confirmation of the Goole freeport tax site – one of three within the Humber Freeport area – will spark further significant investment in the East Yorkshire town.
Goole benefits from excellent transport links via road, rail and sea, with access within minutes to the M62 and onward to Leeds, Manchester and Liverpool, and across the UK via the national motorway network. It is also connected to global shipping opportunities via the Humber Estuary.
Simon Bird, Chair of Humber Freeport, said:
“Submitting the footprint for the Goole tax site represents an exciting and significant milestone for Humber Freeport.
“Each of our three tax sites – in Hull, Goole and Immingham – offers something completely unique. The Goole tax site benefits from a strategically significant location, suitable for advanced manufacturing and other sectors, with easy access to the M62 motorway, excellent rail connections and port links to the Humber Estuary.
“Goole has seen major investment from global companies who have already seen the huge opportunity it presents. Freeport status further enhances that opportunity, opening up new corridors of development and economic growth.”
The Humber region was granted Freeport Tax Site Status in 2021, with a total portfolio of 600 hectares of land available for investment across the three sites.
The Goole tax site is a large, undeveloped plot of land adjacent to the existing Goole 36 Enterprise Zone. The Enterprise Zone is already home to Guardian Industries’ glass plant, a Tesco distribution centre and – following construction of the Tom Pudding Way link road to open up the remaining development plots – Croda’s new international distribution centre.
The University of Birmingham also recently announced plans to develop a £15m rail research centre, next to the RaisE business centre within the Enterprise Zone.
The formal boundary map for the Goole freeport tax site has now been submitted to Government.
Businesses investing in the tax site can benefit from accelerated capital allowances, stamp duty and land tax relief, business rate relief, and no employer National Insurance contributions for the first three years.
Councillor Anne Handley, Leader of East Riding of Yorkshire Council, said:
“The Council has been working closely with the Humber Freeport Company to support tax site development. This is a major step forward in formally establishing the site at Goole.
“Once approved, the freeport will create a natural extension to the existing Goole Enterprise Zone, providing a wealth of opportunity for new job-creating investments.
“Such investments will not only be good for Goole, they will also have a positive impact on the growth of the wider UK economy.”
Humber Freeport’s mission is to drive hundreds of millions of pounds of investment and generate at least 7,000 new jobs.
Several companies have already announced plans to invest on freeport sites within the Humber region, including Siemens, rare earth exploration company Pensana and green hydrogen specialist Meld Energy.
- For more information on Humber Freeport and the investment benefits it offers, visit www.humberfreeport.org