EMCCA becomes accountable body for East Midlands Freeport

East Midlands Combined County Authority (EMCCA) has become the accountable body for East Midlands Freeport.

Leicestershire County Council was previously the accountable body for the strategic economic asset.

The switch to EMCCA follows the national direction that mayoral authorities should lead local industrial strategy and growth initiatives.

Mayor of the East Midlands, Claire Ward said: “East Midlands Freeport is one of the most significant economic opportunities our region has seen in a generation.

"By becoming the Freeport’s accountable body, EMCCA will help ensure our plans for jobs, investment and growth are better aligned across the East Midlands.

“This will help us present a clear, confident offer to those looking to invest here, while ensuring the benefits are felt by our communities through high-quality jobs, stronger infrastructure and long-term reinvestment.”

Freeports are designated areas, typically located around ports or airports, where businesses can access tax incentives and simplified customs processes. 

They are designed to attract investment, support job creation and strengthen local economies.

The East Midlands Freeport, the UK’s only inland freeport, will play an important part in the region’s economic future. 

It is projected to add £9bn to the regional economy over the next 25 years and create 28,000 jobs. It is also expected to retain £1 billion in business rates for local reinvestment.

Its activity is focused on three strategic development sites:

• Ratcliffe-on-Soar Power Station site in Rushcliffe, Nottinghamshire
• East Midlands Intermodal Park in South Derbyshire
• East Midlands Airport and Gateway Industrial Cluster in North West Leicestershire

Since becoming operational in 2023, East Midlands Freeport has operated as an independent company, with Leicestershire County Council serving as its accountable body. This role will now transfer to EMCCA. 

As the new accountable body, EMCCA will receive and manage public funding on the Freeport’s behalf, ensuring that investment is handled transparently, responsibly and in accordance with government requirements. EMCCA will also provide financial oversight and governance.