Major new details of Solent Freeport’s multi-billion dollar bid for the region to be revealed at summit event

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Dunsbury Park is now a live tax site. Part of the Portsmouth Gateway Cluster, Dunsbury Park is a key location within the Solent Freeport. Tax incentives include 100 percent corporate tax rate relief for five years, enhanced capital cost allowances, stamp duty tax relief on leases and payroll tax relief for employers for three years .

Maritime leaders, city leaders and business bigwigs are all set to converge at this year’s Solent summit next Wednesday.

The event will see the launch of the Solent Freeport, bringing new details to the ‘once in a generation’ scheme, worth an estimated £2billion to the region.

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Plans for new Solent Freeport worth Portsmouth billions to leap forward…

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The summit is also expected to unveil the Solent Local Enterprise Partnership’s (LEP) new long-term economic strategy to boost trade in the Portsmouth area.

It comes after Whitehall formally approved Solent Freeport’s bid and a business case was submitted by council leaders earlier this year.

As stated earlier, the Freeport aims to stimulate the economy and trade around shipping ports or airports.

Under the proposals, Portsmouth International Port would become a custom site while Dunsbury Park Business Center in Havant would become a low-tax site.

It is estimated that the freeport agreement could create nearly 57,000 jobs, including 3,500 in Dunsbury Park.

Brian Johnson, Chairman of the Solent Freeport, said: “The Solent Freeport is a once-in-a-generation opportunity that will benefit not just our region, but the whole of the UK.

“The Solent’s location makes it the UK’s most important gateway to European and global markets; and the establishment of a freeport here will accelerate the creation of a high-quality employment space, with investments specifically targeted at cutting-edge growth sectors and innovative approaches to decarbonization and green innovation.

The Solent Summit will be an opportunity for investors and businesses to learn more about the opportunities offered by the Freeport, as well as for local residents to get an idea of ​​what the Freeport will mean to them.

Rachael Randall, Chairman of Solent LEP, said: “Like many coastal communities, the Solent faces productivity challenges and our Solent 2050 strategy outlines how we will work with partners to improve our region, create jobs , drive innovation and ensure a thriving economy where communities thrive.

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