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PORT NEWS


Port of Blyth & Partners Launch Landmark Freeport Bid


Data compiled by consortium members and validated by Vivid Economics demonstrates that the North East England Freeport would deliver outstanding economic benefits to the region. These include:


• 61,458 new jobs across the construction, manufacturing, logistics, energy, innovation and business sectors;


• £3.4 billion GVA across the local region;


• Expected GVA of £110,000 per freeport worker, with median earnings of freeport workers 40-62% higher than current regional levels across all sectors;


A dynamic business and public sector partnership based in the UK’s leading export region, including the Port of Blyth, has lodged an exciting and innovative bid for the North East England Freeport, which economic experts have predicted would generate a £2.1 billion boost to UK exports, plus many other significant benefits.


If successful, the North East England Freeport will provide a uniquely ambitious and collaborative opportunity for the whole region to thrive, boosting the local economy by over £3.4 billion over 10 years and providing a gateway to long term global competitiveness. Through the North East England Freeport, over 30,000 new jobs are expected to be created for the region, of which 12,780 are highly paid ‘better’ jobs. A further 30,895 jobs will be generated in the construction industries.


4 www.dockyard-mag.com March 2021


In addition to the Port of Blyth, the regional consortium formed to operate the North East England Freeport as a virtual free trade zone includes Nissan, the Ports of Tyne and Sunderland, Newcastle Airport, seven local and two combined authorities, the North East Local Enterprise Partnership, plus leading north east universities and innovation organisations. All the sites involved will be inter-connected and protected using a state of the art, cybersecure perimeter.


Economic analysis completed by freeport experts Vivid Economics, has highlighted how the North East England Freeport will build on existing regional strengths. This includes the well-established automotive and advanced manufacturing sectors, a growing clean energy industrial base including offshore wind and renewables, and strengths in innovation, logistics and digital technologies. The world’s largest offshore windfarm will soon be operating from the Port of Tyne.


• Total GVA uplift of c£3,000 per capita within the north east region;


• £2.7 billion in new regional private sector investment;


• £2.1 billion additional UK exports over 10 years;


• North East England Freeport would be Net Zero by 2030.


By generating tens of thousands more and better jobs, the North East England Freeport will become a national hub for global trade and investment, a hotbed for innovation, a catalyst for sustainable economic regeneration, while minimising barriers to trade. Each site in the freeport bid consortium will contribute to realise a best-in-class offering that will drive investment and deliver a high impact, post-Brexit economic boost that fully exploits the North East’s unique abilities in advanced manufacturing, life sciences, digital, clean energy and business services.


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