East Midlands Freeport

Propelling progress for our investors, partners and communities.

[East Midlands Freeport @EMidsFreeport]

Time to clear up some freeport facts (a thread)

1. We are here to attract international investment to 3 sites.
To globally compete, we offer 4 tax reliefs:
* Business rates (5 years)
* Employer NI contributions (3 years)
* Stamp Duty
* Discounted Structures & Buildings Allowance

[East Midlands Freeport @EMidsFreeport]

The latest East Midlands Freeport Board meeting minutes (July) are now available on our website: https://t.co/OHe3Deqmfs

[East Midlands Freeport @EMidsFreeport]

@PROT_DISEWORTH @EuropeanPowell @Hack4Labour @MJSquiresReform @craig_smithUK @NWLeics @CllrJohnLegrys @CllrDTaylor @CllrChrisHills @carlbenfield @CommunityPlann1 @greenbeltsal @IsScotland4Sale @edcollard1 @ITVCentral @CentralBylines @PrivateEyeNews @CharlesAPugsley Turn of phrase - our goal is to see these sites developed. But no we don't own the land and whatever planning processes are used is a decision for the developers/landowners to take.

[East Midlands Freeport @EMidsFreeport]

@PROT_DISEWORTH @EuropeanPowell @Hack4Labour @MJSquiresReform @craig_smithUK @NWLeics @CllrJohnLegrys @CllrDTaylor @CllrChrisHills @carlbenfield @CommunityPlann1 @greenbeltsal @IsScotland4Sale @edcollard1 @ITVCentral @CentralBylines @PrivateEyeNews @CharlesAPugsley No, it can't. Only the Government can alter the tax sites. We have no power/ability to do so.

Yes that's right. Only the land designed in our tax sites will be the freeport's focus. We'll support projects, but we will not develop outside of the tax sites.

[East Midlands Freeport @EMidsFreeport]

@PROT_DISEWORTH @EuropeanPowell @Hack4Labour @MJSquiresReform @craig_smithUK @NWLeics @CllrJohnLegrys @CllrDTaylor @CllrChrisHills @carlbenfield @CommunityPlann1 @greenbeltsal @IsScotland4Sale @edcollard1 @ITVCentral @CentralBylines @PrivateEyeNews @CharlesAPugsley That is simply not true. We are only developing land in our tax sites. We have no reason/desire to develop anywhere outside of them.

The 45km is the area in which we will support projects funded by the income generated by the freeport, agreed by only public sector Board members.

[East Midlands Freeport @EMidsFreeport]

@PROT_DISEWORTH @EuropeanPowell @Hack4Labour @MJSquiresReform @craig_smithUK @NWLeics @CllrJohnLegrys @CllrDTaylor @CllrChrisHills @carlbenfield @CommunityPlann1 @greenbeltsal @IsScotland4Sale @edcollard1 @ITVCentral @CentralBylines @PrivateEyeNews @CharlesAPugsley None of the sites had planning permission prior to the bidding process, this wasn't a factor in their selection. They are development sites.

Landowners and local authorities put forward plots of land to be part of the freeport, this was assessed and agreed by the Govt.

[East Midlands Freeport @EMidsFreeport]

The latest East Midlands Freeport Board meeting minutes (April and June) are now available on our website: https://t.co/OHe3Deqmfs

[East Midlands Freeport @EMidsFreeport]

@PROT_DISEWORTH @Hack4Labour @MJSquiresReform @CllrDTaylor @craig_smithUK @CharlesAPugsley @ClaireWard4EM The £1bn is the forecasted retained business rates we are expected to generate and reinvest across the East Midlands during our lifespan.

Decisions on how this is spent will be made by our public sector Board Members.

The evidence is in our FBC - https://t.co/VZnxUTbjqS

[East Midlands Freeport @EMidsFreeport]

@PROT_DISEWORTH @EuropeanPowell @Hack4Labour @MJSquiresReform Publish Data: We will do shortly.
Displacement: Businesses must apply for business rates - those wanting to cash in by moving, will not be approved.
Job Costs: This was the select cttee's analysis. We don't track this.
Engagement: You've been invited to our community forums.

[East Midlands Freeport @EMidsFreeport]

@EuropeanPowell @PROT_DISEWORTH @Hack4Labour @MJSquiresReform Our target comes from our Govt agreed business case.

The data in the select cttee report is from 2023. We were created in March 2023, so our data was not available.

Our stats will be published soon. Happy to speak with anyone about the freeport and what we're here to do.

[East Midlands Freeport @EMidsFreeport]

@PROT_DISEWORTH Thank you for the feedback. We have now updated our website with details of the upcoming meetings: https://t.co/OHe3Deqmfs

[East Midlands Freeport @EMidsFreeport]

@EuropeanPowell @PROT_DISEWORTH @Hack4Labour @CllrJohnLegrys @Andrew9Boswell @LeicsCountyHall @glenfieldconse2 @TheCanaryUK We've already committed to publishing the data you and Protect Diseworth have requested. This will happen shortly and will be updated with the latest figures at regular intervals.

The point we have made re: tax timescales is valid and corrects the inaccuracy in your article.

[East Midlands Freeport @EMidsFreeport]

@EuropeanPowell @PROT_DISEWORTH @Hack4Labour @CllrJohnLegrys @Andrew9Boswell @LeicsCountyHall @glenfieldconse2 @TheCanaryUK Again - it is not a misstep. It is the window available for businesses to apply not the duration of the business rates relief. This remains capped at five years. The details are here: https://t.co/W7LAwjir30

[East Midlands Freeport @EMidsFreeport]

@EuropeanPowell @PROT_DISEWORTH @Hack4Labour @CllrJohnLegrys @Andrew9Boswell @LeicsCountyHall @glenfieldconse2 @TheCanaryUK Your analysis is based on Govt figures. But they are over a year old. It is unrealistic to expect that we created 28,000 jobs after 18 months into a 25 year programme.

We've made no misstep on the tax reliefs. I'm afraid you have misunderstood the Government's announcement here.

[East Midlands Freeport @EMidsFreeport]

@EuropeanPowell @PROT_DISEWORTH @Hack4Labour @CllrJohnLegrys @Andrew9Boswell @LeicsCountyHall @glenfieldconse2 @TheCanaryUK It is an opinion piece since you offer no right of reply to those referenced and it is your opinion about how Freeports are operating.

Quite a bit of what you suggest is not factually accurate. For example, we are a not-for-profit. Our income will be reinvested in the region.

[East Midlands Freeport @EMidsFreeport]

@EuropeanPowell @PROT_DISEWORTH @Hack4Labour @CllrJohnLegrys @Andrew9Boswell @LeicsCountyHall @glenfieldconse2 You are basing the idea that Freeports aren't delivering on their output in the second year of them being operation of a 25 year licence. And the data you are basing that on is a year old. We'd argue that it's a bit early to make that judgement.

[East Midlands Freeport @EMidsFreeport]

@EuropeanPowell @PROT_DISEWORTH @Hack4Labour @CllrJohnLegrys @Andrew9Boswell @LeicsCountyHall @glenfieldconse2 No. The change was to the timeframe that businesses can apply for reliefs not the duration that they apply. They can now apply for business rates relief up to September 2031 instead of September 2026. The reliefs then apply for 5 years for business rates only.

[East Midlands Freeport @EMidsFreeport]

@PROT_DISEWORTH @Hack4Labour @CllrJohnLegrys @Andrew9Boswell @LeicsCountyHall @glenfieldconse2 As we said, we'll be publishing our data shortly. The data across all Freeports is reported to the Government.