What does Freeport status really mean for Spatial Global?
15th December 2022
Spatial Global is located central to the East Midlands Freeport, and the heart of the ‘golden triangle of transport infrastructure’ with rapid road and rail access to all corners of the country as well as being on the doorstep of the UK's largest pure freight airport.
Why are these Freeports being created'
The Freeport was created to create jobs, increase international trade, and become hubs for innovation in the wake of the UK leaving the EU. They are designed to enable businesses operating inside these designated areas to benefit from tax reliefs, simplified customs procedures and streamlined planning processes to boost redevelopment. Goods imported into freeports from abroad can be exempt from taxes or tariffs, which are normally paid to the UK government on arrival. It means manufacturers located in freeports could import raw materials tariff-free, only paying tariffs on finished products leaving the site for elsewhere in the UK. They can potentially even export finished goods overseas - without the UK duties on imported raw materials being paid.
What makes the East Midlands freeport three main locations strategically important'
Home to world-leading multinational companies like Rolls Royce, Bombardier, JCB and Toyota. With the UK’s busiest ‘pure’ cargo airport - East Midlands - and on the crossroads of the UK's road and rail network. This once-in-a-generation investment in infrastructure will hopefully make the East Midlands the location of choice for UK and international investment.
East Midlands Airport and Gateway Industrial Cluster (EMAGIC)
The primary customs site is East Midlands Airport the UK’s largest freight airport handling 350,000 tonnes of cargo per year. Directly adjacent to East Midlands Airport, is East Midlands Gateway rail freight hub with direct rail access to locations including Felixstowe, Liverpool, London Gateway and Southampton. The strategic rail freight interchange, is capable of receiving the largest container freight trains with storage capacity for almost 2,500 TEU (20 ft equivalent containers) and parking for over 125 trucks. With direct road access to J24 of the M1, it’s developing a new network of low carbon, strategic freight connections across the country to promote modal shift from road to rail for container transport and last mile domestic distribution by trucks.
Ratcliffe-on-Soar Power Station site redevelopment
The power station is due to be decommissioned at the end of September 2024, but this could be brought forward. The site provides a 273-hectare redevelopment opportunity with the majority of land located within the Freeport tax site boundary. With excellent connectivity to East Midlands Airport, and to the wider UK national road and rail networks, the redeveloped site could include advanced manufacturing, low-carbon energy, battery production, logistics, and R&D. The vision for the Ratcliffe site is to move towards becoming a zero carbon technology and energy hub for the East Midlands, supporting continued economic growth, and help meet the region’s decarbonisation goals.
East Midlands Intermodal Park (EMIP)
This is a planned Strategic Rail Freight Interchange (SRFI) located next to the A38/A50 Burnaston Interchange and Toyota manufacturing plant on the south western side of Derby. The site has been included within the East Midlands Freeport because the Government recognises the potential role an intermodal park could play in growing the region’s strengths in advanced manufacturing, automotive and logistics, while supporting large regional employers such as Toyota. This includes opportunities to drive innovation in alternative energy sources and green technologies, helping the UK to meet its net-zero targets.
Spatial Global is at the epicenter of the three anchor sites
The freeport plays to East Midlands geographical strengths, with sites across Leicestershire, Derbyshire and Nottinghamshire – capitalising on the rail infrastructure and road networks. The three locations putting Castle Donington and Spatial Global at the heart of the UK’s largest inland port. The investment is designed to create tens of thousands of jobs across a range of industries, from manufacturing, construction, distribution, logistics, transport and clean energy. The Government hopes it will support 61,000 jobs and bring an extra £8.9 billion into the local economy over 30 years – all of which can only be a good thing for the future of Spatial Global.