Our ambition

Our Freeport represents a unique opportunity to level up, address historical challenges and leverage exciting new opportunities to transform the economy of Plymouth and South Devon through:

• Physical regeneration – by delivering infrastructure to unlock key employment sites and innovation assets, supporting business clustering
  and clean growth opportunities.
• Economic regeneration – by delivering inward investment, supply chain opportunities and productivity gains within our identified growth sectors.
• Social regeneration – by delivering a pipeline of jobs across the spectrum of employment from entry level to higher skilled/high value with upskilling opportunities.

We will:

• Create a national hub for trade and investment – delivering an increase in trade throughput and piloting short sea shipping, reducing freight transport emissions, improving regional connectivity, increasing Foreign Direct Investment (FDI) and investment, as well as increasing the number of businesses exporting
• Promote regeneration and job creation – increasing economic specialisation, delivering an increase in employment and average earnings, tackling deprivation and enhancing skills capacity, apprenticeships and opportunities
• Create a hotbed for innovation – increasing R&D spend, boosting Gross Value Added (GVA) through increasing high value economic activity, increasing productivity, contributing to net zero research and innovation agendas and extending regional, national and international networks.