05 March 2021
Announced by the Government yesterday, a free trade zone for the Liverpool City Region will contribute around £850m GVA and create 14,000 jobs, as well as leading on solutions to meet local Net Zero Carbon targets for 2040.
David Huck, Managing Director of Peel Ports, said:
While we are only one of the partners in this public and private sector joint initiative, the Port of Liverpool is clearly the largest global gateway to the new regional freeport. How we see our role is helping with wider city region to achieve the greatest possible benefit from its freeport status.
“The £400m investment we have made on the Liverpool2 container terminal is a huge enabler. It’s the combination of the outstanding facilities here and the freeport status for the region that will really make the difference.”
The bid, submitted last month to government, enjoyed widespread support from the private sector and was supported and formally endorsed by the Liverpool City Region LEP building on the area’s maritime history and unique position as a Western-facing port with established Transatlantic and Irish Sea trade links.
It is hoped that the initiative will help the Liverpool City Region to attract new investment, create jobs, support the wider economy and increase levels of innovation. As well as the potential relating specifically to international trade, there are opportunities in hydrogen, offshore wind and tidal power.
Huck added: “In line with our existing corporate ethos, we are fully committed to the principles of a sustainable freeport as laid out by the UK Major Ports Group, supporting continued high standards in environmental regulations, labour rights and other aspects of being a responsible business community.”