Thames Enterprise Park welcomes Chancellor’s backing of the bid
Thames Enterprise Park is welcoming the Government’s decision to back the Thames Freeport bid as a ‘strong vote of confidence’ and ‘green light for growth’.
Thames Enterprise Park joined the Thames Freeport bid in January, bringing its 669 acres of former oil refinery land into the overall venture and boosting its regeneration potential.
The Chancellor announced the Government’s support for Thames Freeport in the 3 March Budget.
Jonathan Whittingham, Director of Thames Enterprise Park, said:
“The Chancellor has recognised the economic opportunity provided by the Thames Freeport to transform the Thames Estuary region.
“As part of the Thames Freeport, Thames Enterprise Park will provide valuable development land to maximise the regeneration benefits for the region. We have an ambitious vision for a clean, green employment hub which will bring local jobs and investment to Thurrock, while supporting the Government’s net zero goals. Freeport status will only help us go further in stimulating the economic, social and environmental benefits not only for the estuary region, but also for the UK.
“We look forward to working with our Thames Freeport partners to reinforce the region as the UK’s strongest logistics cluster.”
When fully built out, Thames Enterprise Park will create a new manufacturing, energy and logistics super-hub on the banks of the River Thames, embracing clean and green fuel technologies and building on its legacy as a former oil refinery once supplying to a significant part of London and the South East.
Hydrogen is central to this vision for a clean fuel network that aligns closely with the UK’s net zero carbon agenda.
The total Thames Freeport impact – generated across Thames Enterprise Park, DP World London Gateway, Forth Ports at Port of Tilbury, and Ford at Dagenham – is:
- £5.1 billion additional GVA
- Over £4.5 billion in new public and private investment
- 25,000+ new jobs with many more across supply chains, with significant investment in training and skills
- 1,700 acres of development land – much with planning consent
- £400 million port investment into some of the most deprived areas
- 20% of the UK’s most deprived communities are in London and the South East
- Freeports are in our DNA – DP World began as a free trade zone in Jebel Ali, while Tilbury was a freeport until 2012.
Thames Enterprise Park is one of the largest regeneration projects in the UK and having it within Thames Freeport means that the transformative impact of freeport status will be even greater – a key objective of the Government’s freeport policy.
Following the submission of a package of additional planning information to Thurrock Borough Council in February, a decision on the outline planning application for Thames Enterprise Park is anticipated in the summer.
£8.5m has already been committed to early remediation and planning permission has been secured for further infrastructure works, so that plots can be ready for development as soon as consent is granted.
When planning permission is granted, the first phase of the development will be up and running within 24 months.
Recognising its potential, Thames Enterprise Park has already established occupier interest. A major food sector occupier has been signed up and advanced discussions are taking place with a biofuels company and major low carbon occupier.
Notes to editors
Thames Enterprise Park
- Thames Enterprise Park is a billion-pound inward investment proposal to transform the former Coryton oil refinery site on the banks of the River Thames in Thurrock into a vibrant manufacturing, energy and logistics super-hub.
- It is regeneration in action – transforming 669 acres of brownfield land into a strategic employment and infrastructure asset
- It will create up to 5,500 new jobs worth approximately £340m GVA per annum, as well as training and learning opportunities for young people
- Clean, green and commercially-relevant employment hub which will attract new businesses to Thurrock and the wider regional area
- Strategically located on the River Thames with direct access to river, road and rail links
- Immediately adjacent to London Gateway port, it will be an innovative employment destination and complementary to the port – delivering the proven business benefits of clustering
- Clustering of manufacturing, logistics and energy businesses will strengthen supply chains, cut carbon and achieve more sustainable energy use
- Capital is in place and some plots are ‘shovel ready’ – accelerated construction can ensure Thames Enterprise Park is operating as soon as possible (subject to planning consent)
- Potential to transform the regional economy and deliver benefits at scale though the Thames Freeport vision. Thames Enterprise Park is part of the Thames Freeport bid alongside London Gateway, Port of Tilbury and Ford’s Dagenham engine plant. The Freeport as a whole could create more than 25,000+ new jobs