The UK Government has announced two new green freeports, with the sites in Inverness and Cromarty Firth and Firth of Forth set to receive £52 million in backing.
Green Freeports have been classified as areas which incorporate a range of technologies in a bid to boost innovation and inclusive growth within communities contributing to the creation of green jobs. Fundamentally, these also support economic transformation.
Following a joint assessment process, both the Forth Green Freeport and the Inverness and Cromarty Firth Green Freeport projects have each received a grant of up to £26 million to be delivered over the coming years. This funding is said to directly address infrastructure gaps currently holding back investment in the regions.
Both Green Freeports are expected to become operational in late 2023.
“Working together delivers results – and I am absolutely delighted that the First Minister and I can announce the delivery of our shared ambition for people in Scotland today with not one but two excellent Green Freeport areas,” said the UK’s Prime Minister Rishi Sunak.
“In extending the benefits of freeports to Scotland, we are unleashing the potential of the Firth of Forth and Inverness and Cromarty Firth – backing the delivery of thousands of high-quality green jobs for future generations, as we continue to make gains on our commitments to transition to net zero.”
The Forth Green Freeport is expected to attract up to £6 billion in investment and create 50,000 jobs, which in turn could generate £4.2 billion in additional gross value added in the first five years of the sites operation.
This particular Green Freeport will have a focus on renewables manufacturing, alternative fuels, carbon capture utilisation and storage and shipbuilding, as well as the development of a new creative hub. The site includes the ports at Grangemouth, Rosyth and Leith, Edinburgh Airport, and a site at Burntisland.
The Inverness and Cromarty Firth Green Freeport is expected to create 25,000 jobs and generate £4.8 billion of investment for the area, with a focus on floating offshore wind, nuclear and hydrogen in a bid to achieve net zero by 2045 – Scotland’s national target.
An expansion of the Inverness Campus and Powerhouse is also planned, along with proposals to deliver innovation and skills support. The site includes the Ports of Inverness, Cromarty Firth and Nigg and Inverness Airport.
“I’m delighted to see Inverness and Cromarty Firth and Firth of Forth awarded Green Freeport status. Each can now be granted up to £26m in UK Government funding that will spark innovation, create high-quality jobs and encourage regeneration for the benefit of the whole of Scotland,” said Scottish secretary Alister Jack.
“UK Freeports are a key part of the UK government’s Levelling Up strategy – they will bring prosperity and growth that is crucial as we tackle the challenges associated with rising energy prices and the increased cost of living.
“Working jointly with the Scottish government, we had some very strong and creative bids to consider. We are excited about the opportunities the Green Freeports will bring to improve infrastructure and generate investment, all while taking a step closer to our net zero goals.”