The fate of the the North East Scotland Green Freeport bid has been decided, according to this morning's Press & Journal.
The winning two bids for ‘freeports’ with special tax status in Scotland will be made public ‘imminently’, reports Andy Philip, DC Thomson's Head of Politics.
Scottish Secretary Alister Jack went further than recent announcements by confirming the two awards have been decided during the Conservative party conference in Birmingham.
However, it’s understood a surprise new plan by Prime Minister Liz Truss to offer losing bids new “investment zone” status is creating a new obstacle.
The proposals come with far-reaching tax incentives and light-touch regulation – already flashpoints between Tories and the SNP.
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North East Scotland Green Freeport will create 32,000 jobs and will comprise a special economic zone within which a number of levers and tax incentives will be available to attract new inward investment and support expansion of existing businesses to invest, innovate and develop the skills needed to deliver a wide range of pioneering new projects.
The ambitious proposals will secure vital trade and support the acceleration of innovation, diversification and decarbonisation of the region’s key sectors:
- Stimulating local and wider regeneration, amplifying the value of the Green Freeport investment to level up deprived communities and enable and accelerate a just transition.
- Deliver a globally recognised integrated energy cluster focussed on the delivery of Net Zero contributing significantly to national energy and economic security.
- Leverage private sector investment to attract new manufacturing and subsea engineering companies which will maximise the significant opportunities for the regional and Scottish supply chain provided by ScotWind and INTOG licensing.
- Accelerating the delivery of Acorn, Scotland’s only carbon capture cluster, and establishing Europe’s largest direct air capture facility on the Buchan coast.
- Accelerating the impacts of a new Green Hydrogen Production and Distribution Hub to produce the renewable gas for regional and national markets, and ultimately export.
- Capitalising on the brand new £400million Aberdeen South Harbour expansion which provides 24 hour non tidal access and deep-water facilities on the East Coast.
- Harness the region’s existing expertise in freight logistics across global supply chains and become a UK test-bed for the development of innovative solutions for future trade systems, including the use of drone technology across ports and customs infrastructure.
- Stimulating investment in innovation and automation to transform our crucial seafood sector, supporting to increase world class food and drink exports to the world.