Development of a freeport that could bring hundreds of millions of pounds to the Liverpool City Region (LCR) economy has passed one of its final hurdles.
The UK Government has approved the outline business case for the city region’s freeport with a view to a full business case to be submitted later this month. LCR will be home to one of just eight freeports across England.
Should the business case be approved, £25m of funding will be awarded with a summer date expected for it to open for business. The LCR freeport will be a 45km area with a range of economic incentives available covering customs, business rates, planning, regeneration, innovation and trade and investment support.
