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
@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.
@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.