Thames Freeport - Britain's Trading Future

[ 21 ] We are proud to partner with Thurrrock Council — which is consistently ranked in the top five per cent of local planning authorities for speed in dealing with applications — and with the London Borough of Barking and Dagenham, where Ford Dagenham is located. Both authorities share our vision for turbocharging a high-tech industrial base along the Thames Estuary, with new employment opportunities and investment in skills and life-long learning. We also partner with the Thames Estuary Growth Board which strives to make the most of the region’s unique assets and unparalleled location to turn its potential into good, green growth for the local area and the national economy. Through the Port of London Authority, the tidal Thames connects all freeport sites to the consumer markets of London and the South East, creating the infrastructure for an innovative and green trading corridor. The combination of shovel-ready infrastructure and highly engaged local authorities reduces the time, cost and complexity of establishing operations on site. Thames Freeport offers outstanding financial incentives, potentially the equivalent of up to 50 per cent of the cost of the real estate over five years. These include no stamp duty on land purchases, savings on employer national insurance contributions, a five year business rates holiday and generous capital allowances on investment. The flexibility within the freeport’s customs zone will help manage non- tariff barriers, supporting businesses trading with the EU and the rest of the world. Perhaps most importantly of all for UK Plc, with freeport status London Gateway will contribute almost £4 billion in gross value added to the UK economy. Together with our partners Forth Ports, Ford and the Port of London Authority, DP World is delighted to be launching Thames Freeport. Whatever the post-pandemic world looks like, DP World is prepared and ready to support the UK to meet the challenges that may come. We see many opportunities for the UK to grow, and for trade to flow. We will continue to invest and we will continue to grow. The UK is vital to our company. The combination of shovel-ready infrastructure and highly engaged local authorities reduces the time, cost and complexity of establishing operations on site.