Councillor Evans OBE (Leader of the Council) introduced the item and highlighted:

a)    Plymouth and South Devon Freeport (PASDF) was committed to delivering to the existing strategy for the city through supporting the defence and marine sectors;

b)    £25 million in capital funding had been secured and PASDF were the first to spend this funding;

c)    PASDF had enabled Associated British Ports (ABP) to complete £23 million worth of port improvements, driving net zero and increasing exports;

d)    PASDF has supported Cattewater Harbour Commissioners with their channel-widening project that would enable larger, greener vessels to come in and out of the port;

e)    Princess Yachts had been supported to enable production of a new line of yachts;

f)     £7 million had been secured for the Oceansgate Innovation Barns that would create 50 new jobs before the end of 2025;

g)    £8 million direct development into Langage South had started;

h)    70 Jackal vehicles had been ordered by the British Army from Babcock and work was underway, with the creation of 90 new jobs;

i)     The possibility of FLOW (Floating Offshore Wind) was still being explored and going well;

j)     A £7 million innovation fund had been secured for the maritime launch pad;

k)    PASDF had held 20 major business events at various locations across the Freeport area, involving other local authorities;

l)     PASDF was part of the growth alliance to support and maximise the opportunities in Devonport worth £4.5 billion in investment.

Ian Cooper (Operations Director, Plymouth Freeport), supported by James Whitelock (Head of Oceansgate Infrastructure) and Robert McGuffie (Development Manager) reported the following:

m)  MHCLG were “pleased to see the maturity of the organisation and governance processes”;

n)    Taxi site benefits had been extended to 2031;

o)    Autumn 2024 budget had confirmed continued funding for the UK Freeport’s programme and the new Labour Government intended to align the UK Freeport programme with its emerging 10 year industrial strategy;

p)    Greener ships might benefit in the future from the Langage Green Hydrogen Hub where Carlton Power had secured funding from the Department of Energy Security and Net Zero for 10 megawatts of 100% green hydrogen fuel;

q)    The sites at Langage and Sherford had been identified as employment land in the Joint Local Plan (JLP);

r)    Seed and match funding was being used to install a pedestrian/cycle bridge to create an active travel connection between the Langage and Sherford sites;

s)     Oceansgate would deliver a place for marine businesses to innovate and collaborate;

                      i.        It comprised of two buildings providing over 1,700m² of high-quality workspace built to the latest low carbon specifications;

                     ii.        Work would be completed by the end of 2025, subject to planning approval;

                    iii.        It was being constructed through £3.556m seed funding and £3.344m match funding;

                    iv.        The units would be 70% lower in embodied carbon than traditional steel frame units, and would have timber frames and wood cladding;

                     v.        There was interest from a client who wanted to use three of the eight total units;

t)     Langage South was a direct development from Plymouth City Council, following other similar projects;

                      i.        Langage South would provide sustainable, high quality employment accommodation for around 138 FTE (Full Time Equivalent) jobs;

                     ii.        It was funded by £4 million seed funding and £4 million match funding;

                    iii.        Building was underway for completion in Autumn 2025;

                    iv.        Units were being targeted to the key sectors as set out by the Freeport: Advanced Manufacturing, Defence and Marine, amongst others;

                     v.        Sustainability and net zero had been a key focus in the design;

                    vi.        Expressions of interest had been made into the scheme for units;

u)    The business growth team had instigated a range of initiatives in collaboration with local authority trade and investment teams and colleagues in national Government;

v)    Continued collaboration with Plymouth City Council, Ministry of Defence (MOD), University of Plymouth (UoP) and other key stakeholders to develop the city’s Defence and Floating Offshore Wind propositions, particularly in relation to innovation;

w)   Construction and completion of key transport infrastructure investments to unlock areas of the Freeport’s Tax Sites at Langage and Sherford, including DCC’s Spine Road 1a and Ped/Cycle Bridge projects, plus the Sherford Consortium’s road and core infrastructure scheme.

Supported by Amanda Ratsey (Head of Economy & Investment) and Karime Hassan (Interim Director for Growth), in response to questions it was reported:

x)    The gateway policy of sectors was created recognising the strengths of the city and region in marine and defence and this was now broadening to include advanced manufacturing, engineering and net-zero;

y)    The aim of the units was to create space that responded to business requirements;

z)    Businesses would have access to funding support and skills and be part of an ecosystem of ongoing support;

aa)  PASDF was a partnership between three local authorities, which was a unique model;

bb) The Freeport lead on innovation, skills and stimulation of demand;

cc)  The work Plymouth City Council carried out on inclusive growth was exceptional in a regional context;

dd) Plymouth had a rare opportunity to build and economy around a transformational growth opportunity and make a change to a higher paying, higher wage economy;

ee) The same message was being promoted through the growth alliance in multiple spaces and to Government;

ff)    It was important that the Government understood its role in making sure the economy of Plymouth was not harmed and that the investment in Devonport was a “take-off” point for Plymouth economically and would influence many sectors including housing, transport and culture;

gg)  The main political lobby needed was to align what Plymouth needed and what it could have.

The Panel agreed to note the report.