A Green Freeport is a zoned area within which operators and businesses can access tax benefits and other incentives.
Green Freeport objectives
Green Freeport objectives are to:
- promote regeneration and high-quality job creation
- promote decarbonisation and a just transition to a net zero economy
- establish hubs for global trade and investment
- foster an innovative environment
The Forth Green Freeport is one of two Green Freeports in Scotland. It spans a 45 kilometre wide site in the Forth Estuary that encompasses Edinburgh, Falkirk and Fife. The Forth Green Freeport partners are Babcock International, CalaChem, the City of Edinburgh Council, Edinburgh Airport, Falkirk Council, Fife Council, Forth Ports, Ineos, the Royal Navy and Scarborough Muir.
On 25 June 2024, the Council's Finance and Sustainability Committee approved an investment strategy for retained non-domestic rates from the Forth Green Freeport.
On 22 August 2024, the Council's Policy and Sustainability Committee agreed to endorse the full business case for the Forth Green Freeport.
Within the Forth Green Freeport, there are 3 tax sites:
- Grangemouth
- Mid-Forth (Burntisland and Leith)
- Rosyth
along with various customs sites.
The tax sites were formally designated on 12 June 2024.
Benefits and incentives for businesses
Businesses investing in the tax sites can potentially access the following tax benefits:
- enhanced capital allowances
- enhanced structures and buildings allowance
- non-domestic rates relief
- employers' national insurance contributions relief
- land and building transaction tax relief
Businesses investing in the custom sites can access incentives such as:
- duty suspension
- duty flexibility
- duty exemption for re-exports
- simplified import declarations
Find out more about the Forth Green Freeport on their website.