Holyhead Port operator Stena Line has announced its intention to submit a formal bid for freeport status in Wales. The ferry giant has said that, if successful, an freeport in Anglesey would attract £1bn of much-needed investment and create up to 13,000 high-salary jobs in the region.
The Swedish firm is partnering with Anglesey County Council to jointly bid to become Wales' first freeport. The bid has the backing of Bangor University and 17 major businesses in the area including Rolls Royce, Bechtel and Last Energy.
A freeport would see the establishment of a secure customs zone at Holyhead and other sites on Anglesey with special tax and tariff arrangements designed to attract major domestic and international investment. It would also return Holyhead to "pre-Brexit levels of trade" and "cement the area as a hub for innovation in trade and clean energy, with industry-leading initiatives along its coastline driving the UK towards its net zero objectives".
