Forth Green Freeport to boost economy by £8.1bn as Labour and SNP sign deal – Kirsty McNeill and Kate Forbes

Kirsty McNeill, Scotland Office Minister

I am delighted to be in Leith today to put our promise of economic growth across Scotland in writing as we mark the signing of an agreement on the development of the Forth Green Freeport.

Crucially, today's signing of a memorandum of understanding by the UK and Scottish governments unlocks £25 million of UK Government funding and a range of valuable tax incentives for businesses investing in the local area. This will attract investment, jobs and create opportunities for local communities.

Over the next decade, the Forth Green Freeport is expected to create up to 34,500 well-paid and highly skilled jobs, boost the economy by £8.1 billion, and generate £7.9bn in private and public investment. These are not simply figures on a page – they represent real opportunities for communities and businesses across the region.

The Forth Green Freeport will help transform the economy of Central Scotland by attracting investment, new businesses and jobs to Burntisland, Grangemouth, Leith and Rosyth. It will also play a key role in the UK's green energy future.

Freeports are catalysts for green technologies, alternative fuels and renewable energy manufacturing – accelerating our transition to clean power and creating the highly skilled jobs of the future.

The event today will take place at the Port of Leith, which has been transformed with significant private investment into a world-class renewables hub – currently marshalling the component parts of a 72-turbine wind farm being constructed off the Angus coast.

Forth Green Freeport is one of 12 Freeports across the UK. Last year the Scottish Secretary Douglas Alexander attended the signing of the memorandum of understanding for the Inverness and Cromarty Freeport, which will be transformational for the economy of the Highlands.

We are delivering Freeports in Scotland in partnership with the Scottish Government, and Deputy First Minister Kate Forbes will be joining me today, along with our local partners.

Scotland's Green Freeports now form a vital part of the UK Government's broader Industrial Strategy Zones programme, which also encompasses Investment Zones, and which will play a significant role in delivering the UK Government’s number one priority: economic growth.

Our Freeports programme will create skilled jobs and drive inward investment here in Leith and right across Scotland.

Deputy First Minister and Cabinet Secretary for Economy and Gaelic Kate Forbes

The Scottish Government is committed to driving fair, green economic growth which will put more money into people’s pockets and help the places they live in to prosper.

By establishing hubs for global trade and investment and fostering an innovative environment, Scotland’s Green Freeports will play a huge part in that. The signing of this joint agreement releases funding to begin work on building the infrastructure needed for Forth Green Freeport, which covers sites at Leith, Rosyth, Grangemouth and Burntisland.

It is the culmination of years of partnership working to transform the region, including the Grangemouth industrial cluster, by attracting billions of further public and private investment.

Scotland’s two Green Freeports offer businesses locating in tax sites a package of both devolved and reserved tax and other incentives. I am grateful to all partners who have come together to get Forth Green Freeport to the delivery stage.

It aims to create 34,500 jobs – including 16,000 direct jobs on the sites and a further 18,500 across supply chains. There is a commitment to ensuring these jobs will align with the Scottish Government’s flagship Fair Work First policy – which makes it mandatory to pay at least the real Living Wage and provide channels which give workers an effective voice.

An economic impact assessment reveals it will attract investment of up to £7.9bn over 10 years, focusing on seven priority sectors including alternative fuels, modular manufacturing, shipbuilding, and creative industries.

This will support businesses to create well-paid new jobs, promote regeneration, and take a significant step towards achieving Scotland’s net-zero ambitions.

The Inverness and Cromarty Firth Green Freeport is already in the delivery stage, working towards creating 18,300 jobs across the UK, including 11,300 in the Highlands, and to attract investment of almost £6.5bn with its focus on renewable and low-carbon energy industries – particularly offshore wind and green hydrogen.

We have a once-in-a-generation opportunity to build the green industries of the future and make a real difference to people’s lives. It’s why the Scottish Government is investing up to £500m over five years to grow the offshore wind sector, and why we have launched a new online portal InvestScotland which showcases large-scale investment opportunities.

Delivering Scotland’s Green Freeports is another step in bringing prosperity to communities across the country.