Global investment boosts Freeport East growth plans

Having gleaned financial support from Europe and Australia in 2024, Freeport East plans a vibrant programme for 2025 built around exciting green partnerships, a new skills programme and further investment.

Steve Beel, CEO at Freeport East said: “We have a strong business plan and an encouraging pipeline of potential investments from both the UK and overseas.

“For example, supporting companies in and around Cambridge who are looking to expand their manufacturing functions closer to Felixstowe and its global connections is one exciting area of opportunity.

“In 2024, Freeport East secured international investment from companies based in Turkey, Australia and Germany. The partnerships helped Freeport East to reach over £250 million in private investment and secure 1,800 jobs across our various development sites.

“This region of the UK has unique and diverse strengths, including global connectivity, world-class universities and deep sectoral expertise in high-growth sectors.

“While global trade conditions are always dynamic, we are confident in our ability to attract investment through a balanced approach – leveraging international trade while strengthening domestic markets, creating jobs, and unlocking new opportunities for the region.”

He said the region continued to attract major manufacturers and trade-focused businesses. The renewed upbeat message emerged from a board meeting held in Ipswich.

As the UK’s biggest container port in 2024, the Port of Felixstowe attracts the world’s largest cargo vessels. A recent £130m of investment by the Harwich Haven Authority to deepen the harbour approach channel has strengthened Felixstowe’s unique ability amongst UK ports to accommodate the world’s biggest vessels. On average over 35 trains also leave the port every weekday for locations throughout the UK.

Over 9 million sq ft of new business and logistics space has been planned or delivered across the Freeport East area in recent years, giving investors and occupiers a range of options.

Preparatory work will start soon on groundworks and utilities to support the 32 hectare Freeport East Felixstowe tax site development which, together with a package of dedicated investment incentives available to occupiers, will provide up to 1.4m sq ft of uniquely connected manufacturing and advanced logistics space only metres from where some of the world’s largest container ships berth.

This will complement the 68 hectare, 2.4 million sq ft Gateway 14 freeport site at Stowmarket which has drawn the aforementioned new investments from the UK, Germany and Turkey and continues to have a strong pipeline of interest.