Decision details

RESOLVED that Cabinet:-

(a)          approves the Council’s inclusion in the submission of a bid to Government for part of the BCP area to be given Freeport status;

(b)          approves the allocation of £50K to support the development of a bid for Freeport status; 

(c)          delegates authority to the Portfolio Holder for Regeneration, Economy and Strategic Planning and the Director of Development, in partnership with other relevant organisations, to complete and submit a bid by or on the due date of 5th February 2021; and

(d)          authorises officers to further develop the full business case for Freeport status, subject to receiving notification of a successful application.

Voting: Unanimous

Reason

Freeports boost the local economy and create new jobs. By approving the Council’s inclusion in a bid to Government for Freeport status, it creates an opportunity to bring investment and jobs to the area. This will help to deliver the Council’s vision, specifically in relation to its objectives around creating Dynamic Places. If successful it will also help to boost the private sector after BREXIT and as the economy rebounds after COVID 19.