East Midlands Freeport has formally opened for business, allowing companies within its borders to benefit from its tax incentives, fewer customs restrictions and simpler planning regulations.
The low tax area is one of the last around the UK to go live and the only one based inland, away from traditional sea ports.
It incorporates 1,300 acres across three main sites – East Midlands Airport (which is already the UK’s biggest dedicated cargo airport) and the industrial developments around it; the Ratcliffe on Soar power station site, which is a due to be redeveloped after 2025; and the 5.2 million sq ft East Midlands Intermodal Park near Toyota in Derbyshire.
