East Midlands Freeport

East Midlands Freeport – Driving investment, innovation and green growth – creating tens of thousands of jobs, £8.9bn for the region’s economy and hundreds-of-millions of retained tax to reinvest in East Midlands.

East Midlands Freeport (EMF) is a world leading, low carbon advanced manufacturing and logistics hub located in the heart of England, with unrivalled connectivity by rail, road and air. Announced as a successful Freeport bid by the UK Government, it officially opened for business in March 2023.

As the UK’s only inland Freeport, it will drive economic regeneration across the East Midlands. And underpinning this is a unique and world leading combination of partners focused on creating thousands of jobs, boosting skills and accelerating the region’s commitment to decarbonisation and Net Zero through low carbon energy investments.

Already home to world-leading multinational companies and East Midlands Airport – the UK’s busiest ‘pure’ cargo airport – EMF is uniquely placed to capitalise and innovate on the region’s unrivalled commercial and industrial strengths:

• Advanced manufacturing, automotive and logistics
• Multimodal transport connections – covering air, rail and road
• Once-in-a-generation investment in infrastructure
• Leading higher and further education institutions

Straddling three East Midlands counties, East Midlands Freeport features three main tax sites: the East Midlands Airport and Gateway Industrial Cluster (EMAGIC) in Northwest Leicestershire, the Ratcliffe-on-Soar Power Station site in Rushcliffe in Nottinghamshire and the East Midlands Intermodal Park (EMIP) in South Derbyshire. The Freeport also includes the first customs site at Space Park Leicester in Leicester.

East Midlands Freeport will create tens of thousands of job, generate £8.9bn for the economy over the next 30 years and pool retained business rates to reinvest in the region line with the Freeport objectives.

East Midlands Freeport has significant levers to attract global investment into the region – bringing lasting and meaningful regeneration benefits to the region and UK.

• Dynamic customs benefits to drive trade and investment
• Tax benefits focused on supporting investment and growth
• A focus on advanced logistics, advanced manufacturing and green energy
• A powerful collaboration and network across public and private sectors, and with central Government
• Significant retained business rates to reinvest in skills, jobs, innovation & growth regionally
• Transformative decarbonised supply chains focussed on sustainable growth

Eligible businesses will have access to a suite of tax reliefs to incentivise new investment within the boundaries of East Midlands Freeport’s ‘Tax Sites’

• Stamp Duty Land Tax Relief
• Enhance Capital Allowances
• Employment Tax Incentives
• National Insurance Contributions Rate Relief
• Business Rate Relief
• Enhance Rate of Structures and Buildings Allowance

Businesses operating inside designated areas in and around the Freeport known as Customs Sites can receive a number of VAT and Duty benefits

• Duty Flexibility
• Duty Exemption
• Duty Suspension
• Simplified Import Procedures