Thames Freeport - Britain's Trading Future

[ 49 ] the building of more than 1,000,000ft 2 of new film studios in Dagenham and Purfleet-on-Thames, is set to create a world-class centre for creative and cultural production. It will lead global innovation, create new jobs, develop local talent and support the rapid growth of the creative economy. Backed by the Ministry of Housing, Communities and Local Government (MHCLG), and the Department for Digital, Culture, Media and Sport (DCMS) as well as the Thames Estuary Growth Board, it has the potential to generate £3.7 billion for the UK economy. To bring the region’s significant opportunities to fruition, the Thames Estuary Growth Board is proposing to become a self-financing organisation by becoming a Strategic Investment Partner (SIP). It will provide and facilitate appropriate types of investment and, in time, make returns on investment to sustain its work and catalyse other opportunities. This innovative approach will represent best value for the taxpayer, providing government with the opportunity to co-invest. As a result, growth opportunities are delivered more quickly, propelling progress exponentially and generating economic results. The Growth Board’s goals for the SIP are to ensure that investment benefits the region as a whole. Further, its consequent success framework aligns directly to wider policy objectives around levelling up, net zero and global Britain. The Growth Board will achieve this by flexing its advocacy, convening and partnering powers: advocating on behalf of the region, convening various stakeholders to achieve strategic alignment and partnering with others to maximise impact. Looking forward, there will be a wave of investment on an unprecedented scale. New inward investors will benefit from global connectivity to every continent; first-class onward road and rail connections and marine services; and skills development, innovation and automation services; alongside well-honed investment promotion and trade facilitation. 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, enabling them to continue to enjoy low-friction trade processes with the EU and global markets. The Thames Freeport will be a centre of excellence for the country, and an invaluable asset for the Thames Estuary Growth Board as they charge forward towards a levelled-up, innovated, net zero future. There will be a wave of investment on an unprecedented scale. New inward investors will benefit from global connectivity to every continent; first-class onward road and rail connections and marine services; and skills development, innovation and automation services