Serving to help the event of offshore wind, hydrogen and sustainable fuels within the Swansea Bay Metropolis Area, a bid for inexperienced ‘freeport’ standing is making progress.
The Company Joint Committee (CJC) for South West Wales has given its in-principle backing to the bid, which is being led by Neath Port Talbot Council and Pembrokeshire Council in partnership with the ports of Milford Haven and Port Talbot.
Geared toward encouraging financial exercise, freeports are zones designated by the UK Authorities as areas with little or no tax.
If the South West Wales bid is profitable, it will convey collectively the ports of Milford Haven and Port Talbot to assist speed up funding in inexperienced vitality industries and expertise.
This is able to follow-on from the creation of regional vitality and financial growth plans, which had been authorized by the CJC earlier this yr.
Cllr David Simpson, Pembrokeshire Council Chief, mentioned:
“Each Pembrokeshire and Neath Port Talbot have thrilling, shared alternatives for inexperienced vitality infrastructure of nationwide significance, together with floating offshore wind within the Celtic Sea.
“Inexperienced freeport standing would unlock these alternatives, serving to create jobs and defend our vitality safety whereas additionally benefiting from the area’s expert workforce, current amenities and closeness to key markets.
“In-principle backing from the CJC is the most recent step ahead for the event of a really compelling bid.”
Work is now happening with different regional native authorities, established and rising trade representatives, unions and lecturers to additional develop the bid, which must be submitted to the UK Authorities by November 24.
Cllr Rob Stewart, CJC Chairman, says it’s necessary advantages are unfold throughout the area.
“All companions are supporting the freeport bid in precept as it’ll generate wider financial advantages for your entire area,”
he mentioned.
“It will embody constructive, knock-on results for Swansea and Carmarthenshire too, whereas additionally complementing plans Swansea Council is supporting for the Blue Eden undertaking in Swansea Bay that may embody a tidal lagoon.
“The area will even be exploring the latest UK Authorities announcement round funding zones, and can look to incorporate this in our wider financial growth technique.”
Topic to agreements, the CJC has additionally authorized the appointment of voluntary non-public sector specialists to offer specialist recommendation in areas it covers. These embody vitality, financial growth, strategic land use planning, and transport.
The South West Wales Company Joint Committee is geared toward additional driving financial prosperity throughout the area. The Committee is made up of the Leaders of Carmarthenshire Council, Neath Port Talbot Council, Pembrokeshire Council and Swansea Council, in addition to senior representatives of the Brecon Beacons and Pembrokeshire Nationwide Park Authorities.
Feeding into the committee, sub-groups have additionally been arrange for the themes it covers.
