Celtic Freeport ‘Open for Business’

The Celtic Freeport is officially open for business today (26/11/2024), following the UK and Welsh government’s designation of its tax sites in Neath Port Talbot and Pembrokeshire. Businesses locating on the sites will now be able to benefit from a comprehensive package of tax reliefs on new investment and job creation. 

The Celtic Freeport centres on the ports of Milford Haven and Port Talbot and will play a major role in the decarbonisation and industrial transition of South-West Wales. The Freeport will help develop new manufacturing facilities and port infrastructure to support the rollout of Floating Offshore Wind in the Celtic Sea and opportunities relating to the hydrogen economy, sustainable fuels, and carbon capture and storage. In total, Celtic Freeport is set to attract £8.4bn of private and public investment, deliver 11,500 new jobs and add £8.1bn of economic value (GVA). 

The Celtic Freeport is one of 12 Freeports across England, Scotland and Wales. They will play a key part in this government’s Growth Mission, helping reorientate the UK’s industrial heartlands to the green industries of the future and create thousands of high-quality jobs for local people. The Government confirmed at the Autumn 2024 Budget that the Freeports Programme will continue and that it will work with partners to align the Programme with its priorities. 

Find out more about The Celtic Freeport by visiting its website.