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Anglesey Freeport designated tax sites approved by Parliament

ANGLESEY FREEPORT is pleased to announce that Parliament has now designated two of its tax sites, following UK and Welsh government’s approval of its Outline Business Case, marking a pivotal moment in the Freeport’s development. 

From 23rd January 2025, new businesses located within the ‘Anglesey Prosperity Zone,’ and ‘Central Anglesey Tax Site’ will benefit from special tax reliefs, attracting investment and boosting economic growth across North Wales. The statutory instrument for the ‘North Anglesey Tax Site’ is anticipated to be laid in April 2025. 

Alongside designation of two tax sites, Anglesey Freeport has submitted its Full Business Case to the UK and Welsh Governments. Once operational, Anglesey Freeport will deliver upon the Welsh and UK Government’s shared objectives around the broader freeport programme, including ensuring the Freeport operates as a hub for global trade, innovation and investment, supporting local talent and creating new employment opportunities, particularly within low-carbon energy. 

Ian Davies, Head of UK Port Authorities at Stena Line said:  “We are delighted the tax sites have now been approved, allowing us to take the next step forward in bringing Anglesey Freeport to life. The designation of the tax sites will allow us to attract investment and boost economic growth across North Wales. I look forward to working with communities on Anglesey and local stakeholders as we continue our work to bring jobs and innovative technology to Anglesey.” 

The Freeport project aligns closely with the Isle of Anglesey County Council’s vision of ‘Creating an Anglesey that is healthy and prosperous where people can thrive’ and its Economy Strategic Objective of ‘promoting opportunities to develop the Island’s economy.’ 

Isle of Anglesey County Council Chief Executive, Dylan J. Williams, added:  Anglesey’s Chief Executive, Dylan J. Williams, said, “The designation of Anglesey Freeport’s tax sites and approval of the Outline Business Case are two important steps towards securing approval of our full business case (FBC), and unlocking vital government funding. As the project’s Accountable Body, the County Council will be managing around £25m, which will act as an enabler to provide businesses located within Anglesey Freeport with tax breaks and other benefits.” 

“Our partnership with Stena Line has already seen considerable work, time and effort invested in delivering Anglesey Freeport. Working closely with both governments and other key partners locally and regionally, we will continue to make progress to deliver the project, significant investment and long-term economic opportunities for the island and wider North Wales region.” 

Further information and updates on Anglesey Freeport are available at www.angleseyfreeport.com  

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