Celtic Freeport

The Celtic Freeport is open for business and will deliver an accelerated pathway for Wales’ net zero economy generating over 16,000 new, green jobs and up to £5.5 billion of new investment. The transformational bid covers the ports of Milford Haven and Port Talbot and spans clean energy developments and innovation assets, fuel terminals, a power station, heavy engineering and the steel industry across south-west Wales. 

The Celtic Freeport consortium comprises Associated British Ports (ABP), Neath Port Talbot Council, Pembrokeshire County Council and the Port of Milford Haven.  The bid’s strategically located tax and customs sites span almost 250 hectares in Pembrokeshire and Neath Port Talbot. 

The benefits to businesses based or relocating to these sites include:

5 years of rate relief
100% enhanced capital allowances on expenditure
National Insurance Contribution allowances on new staff for 3 years
Structure and Building allowances for 10 years
Stamp duty land tax relief on purchases
Customs freedoms on good entering and leaving the custom zone

The benefits to the Freeport areas include:

£25m to improve infrastructure inside the boundary
Local authorities retain 100% of the uplifted element of business rates revenues for 25 years
Local authorities can borrow against future business rates revenue to invest upfront in infrastructure and skills programmes
Supply chain opportunities for existing and new businesses
Employment opportunities created by the investment
Collaboration opportunities with other Freeports