- Around 1,800 jobs are now committed to Freeport East development sites, with some £250 million in private investment already pledged
- British companies investing at Freeport East have been joined by firms coming from as far afield as Australia, Turkey and Germany, creating hundreds of local job opportunities
- High potential local firms also benefitting from financial backing under the Freeport East Clean Growth Fund
Freeport East is celebrating a successful 2024 in which it has continued to grow its role as a magnet for fresh investment and new job opportunities in the East of England.
At Gateway 14 in Stowmarket, 2024 saw the start of full operations at the landmark 1.17million square foot distribution hub for leisure retailer The Range, creating 1,600 jobs for the area. In addition, other businesses moving to the site include Turkish high-end insulation firm Assan Panel and German flat roof experts Bauder, who began work on their 44,000 square foot distribution centre in August.
In Harwich, Rux Energy from Australia opened their first overseas office as they partner with the UK on development of their advanced hydrogen storage materials. Companies including Scottish Power and RWE continued to develop new investments in the cleaner fuels sector which will be a big boost to the Port of Felixstowe and the wider region too.
This all adds up to around 1,800 jobs committed, with around £250 million of private investment. This is in addition to freeport funding being invested in the region, such as the £18 million Gateway 14 innovation hub that Freeport East is delivering in partnership with Mid-Suffolk District Council and the start of new skills programmes through the Freeport East Skills and Innovation Fund.
Steve Beel, Chief Executive Officer of Freeport East, said: “Our role is all about boosting investment, productivity and job creation in the East of England. This year, with our partners, we’ve secured a number of exciting new businesses moving into the region to help realise that goal. We look forward to working with a wide array of different businesses and organisations going forward to ensure the East of England continues to flourish through private sector activity and we support growth in areas of our region that have often missed out on investment in the past.”
Sir Christopher Haworth, Chairman of Gateway 14, added: “Through our strong partnership with Freeport East, Gateway 14 has proved a real success in its goal of providing an economic boon for both the town of Stowmarket and the wider East region as a whole, already creating hundreds of jobs opportunities with hundreds more set to follow. It’s an exciting time of economic growth for our region that we’re proud to be at the centre of. Building on our strategic location close to the Port of Felixstowe and major transport networks, and in an area with strong links to universities and a skilled workforce, I’m excited to see the progress and development we’ll undoubtedly continue to deliver over the years to come.”
2024 also saw a number of other exciting partnerships announced, including with the Energy Systems Catapult and their Innovating for Transport and Energy Systems (ITES) programme to boost trade with India. Then there was an agreement with London-based investment firm greenCrowd to help small and medium enterprises (SMEs) access investment funding for innovation and growth.
Freeport East has also participated in a number of successful industry collaborations on maritime and clean energy innovation, with over £5m of financial support secured to date. Partners that Freeport East are working with include Carnot Ltd, Rux Energy, Entopy, Cranfield University, and a range of other British innovators.
In September, Freeport East announced the successful recipients of two new funds worth almost £1 million. The Clean Growth Fund and Skills and Innovation Fund have been allocated to businesses and education organisations in the East of England, offering vital support to small and growing businesses. The local, on-the-ground support will advance opportunities for new innovations and green jobs, particularly in high-potential sectors such as clean energy. Local businesses set to benefit include Insight Energy, a renewables specialists based near Ipswich, Clacton-based MKC Rail, and two high-potential spin-outs from the University of Essex in Colchester.
In 2024, Freeport East also launched the Harwich Clean Energy and Maritime Innovation Cluster in the seaside town, in partnership with the University of Essex and Tendring District Council. This was complemented by Freeport East developing plans for a new office location in Harwich and complementary space to support skills and innovation activities in the historic port centre. These are expected to progress early in 2025.
The Harwich Cluster also reinforces Freeport East’s commitment to its most significant investment opportunity at the town’s Bathside Bay. The Green Energy Hub, designed to support the growing offshore energy sector, was granted planning permission by Tendring District Council in May and will support a range of advanced manufacturing and clean energy opportunities. The port expansion will provide around a mile of new quay wall and 120 hectares of storage and manufacturing infrastructure for the offshore wind industry, building on prior maritime and clean energy experience in the area and the presence of RWE’s Galloper offshore windfarm office. Bathside Bay will help the UK to reach its ambitious target of ensuring all of our energy comes from renewable sources by 2030.
2025 promises to be another exciting year for Freeport East as it looks to attract more investment and jobs to the region while supporting the delivery of those already committed.