Financial incentives for businesses to locate at Thames Freeport start today
A range of financial incentives which make it economically attractive for businesses to locate at Thames Freeport will apply from today (19 November).
Anyone setting up a new manufacturing, clean energy or logistics business at the Thames Freeport will be able to access tangible economic benefits which are available across the three tax sites at Ford Dagenham, the Port of Tilbury and London Gateway’s Logistics Park.
Freeports are special areas within the UK’s borders where different economic regulations apply. These include a range of tax incentives, including business rates relief for five years, enhanced capital allowances, relief from stamp duty and exemption from employer national insurance contributions for new and additional employees.
Launching at the conclusion of International Trade Week, Thames Freeport is open for business..”
Thames Freeport is an economic zone connecting Ford’s world-class Dagenham engine plant, the global ports at London Gateway and Tilbury, and many communities in urgent need of ‘levelling-up’. 20% of the UK’s most deprived communities are in London and the South East. Businesses looking to expand are being urged to take advantage of the tax benefits of relocating to the Freeport and being part of a customs zone, which will enable the businesses to continue to have low friction trade processes with the EU and global markets.
No location can match Thames Freeport for access to rail, road, river and international maritime routes. Comprising Britain’s most globally connected ports and logistics park and Ford’s world-class engine plant, Thames Freeport represents a faster, more cost-effective, and more environmentally responsible way to service domestic and European markets. Ford Dagenham is London’s largest manufacturing site.