The Thames Freeport has been given the go ahead to formally constitute its board and start operating fully, following the approval of the final business case by the UK Government, according to the company's release.
The Freeport is an economic zone located in the Thames Estuary and UK’s largest port – the Port of London. With 1,700 acres of development land, no location can match Thames Freeport for access to Europe’s largest consumer market and its excellent connectivity to 18 million people.
A partnership between Ford, Forth Ports Limited and DP World, Thames Freeport will see over £4.6 billion in new public and private investment, and the creation of over 21,000 new jobs and many more across supply chains. Significant investment in training and skills will contribute to the ‘levelling-up’ of the communities and businesses in East London and South Essex.
The Freeport has already started to deliver new business growth, generating over 500 new jobs, with six businesses joining its sites that offer a package of financial incentives.