Freeport East has this week received final Government approval, allowing it to move forward into the delivery phase.
The development of the Freeport is expected to create up to 13,500 new jobs and will be boosted by £25 million in Government funding to support infrastructure enhancement.
Chris Starkie, Chief Executive of New Anglia LEP, pictured third from right at a Parliamentary reception to mark the announcement, said: “Freeport East is a vision which is already becoming a reality. Construction of the first building on Gateway 14 at Stowmarket begins next week and we are in discussions with a whole range of companies whose interest has been piqued by the Freeport opportunity and who wouldn’t have considered coming to Suffolk and Essex without that incentive.
“Freeport status for these three pivotal sites has the potential to deliver thousands of jobs, fantastic opportunities for our local supply chain and long-term economic benefits – not just for Suffolk and Essex, but Norfolk too. If our region is to fulfil its huge economic potential, we need the infrastructure projects to support that investment and growth, and Freeport East promises to do that and more.”