Great news for the region
A project that is expected to create 28,000 jobs in the East Midlands is receiving final approval from the Government. The East Midlands Freeport will receive up to £25 million in funding to encourage investment in industries including automotive and space at three sites, including the Ratcliffe-on-Soar Power Station.
These special rules could include looser planning regulations, lower business rates and lower stamp duty. The East Midlands Freeport will be the seventh to become fully operational.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 two other sites will be based at the East Midlands Airport and Gateway Industrial Cluster, as well as the East Midlands Intermodal Park. The first will focus on the East Midlands logistics market, whilst the second will look at developing a series of rail-connected business parks.
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