Financial incentives launched to entice business at Thames Freeport

Financial incentives launched to entice business at Thames Freeport
Thames Freeport is connected to London Gateway

A range of financial incentives have been launched to entice new manufacturing, clean energy and logistics businesses to locate at Thames Freeport.

Applicable from November 19, the tangible economic benefits are available across the three tax sites at Ford Dagenham, the Port of Tilbury and London Gateway’s Logistics Park.

Freeports are special areas within the UK’s borders where different regulations apply, including a range of tax incentives.

These incentives include business rates relief for five years, enhanced capital allowances, relief from stamp duty and exemption from employer national insurance contributions for new and additional employees.

Businesses looking to expand are being urged to take advantage of the tax benefits of relocating to the Freeport and being part of a customs zone, which will enable the business to continue to have low friction trade processes with the EU and global markets.

Consisting of Britain’s most globally connected ports and logistics park and Ford’s world-class engine plant, Thames Freeport is able to offer a fast, cost-effective and environmentally responsible way to service domestic and European markets.