Freeport leader says ‘Plymouth is the place to invest with defence-led growth ”’
The recent opening of Beaumont Way, developed by Plymouth City Council as part of Langage freeport site.(Image: Plymouth City Council)
An “internationally renowned developer” is on the cusp of signing a deal with a landowner to further develop a freeport location on the edge of Plymouth and market it as a premium employment site in the south west.
Plymouth City Council’s cabinet members were told that the developer wants to carve out a presence in the south west beyond Bristol and had seen the burgeoning defence demand in the Plymouth area.
The city attracted European defence tech company Helsing, which specialises in AI, to open its first resilience factory at Langage last year.
Operational leader of the Plymouth and South Devon Freeport Ian Cooper said a deal was imminent at Langage Energy Park which could bring further international firms of this calibre to Britain’s Ocean City.
Over the last 12 months the freeport has been working on brokering a joint development venture between the landowner of Langage Energy Park and the international development company, he said, and it was “very near to signature”.
“This developer wants to rebadge Langage Energy Park and remarket it as the premium employment site in the south west that can offer substantial size developments, from 20,000 sq ft up to near 400,000 sq ft.
“That is unheard of anywhere else this side of Bristol,” he said. “Plymouth is the place to invest with defence-led growth and we are banging the drum to land further investment.”
“That’s more Helsings, more key defence firms, both indigenous and foreign direct investment that are new players, to broaden an already exciting eco system and expand that into an international landscape.”
The energy park is owned and managed by Carlton Power which has developed the adjacent gas-fired power station and solar farm.
The freeport sites at Langage, Sherford and South Yard offer tax and customs benefits and incentives to businesses. Plymouth was one of eight freeports to be designated across the country in 2022.
With the designation came £25 million of seed funding from the government which has resulted in more than £70 million of investment.
Plymouth City Council is driving freeport development, along with South Hams District Council, and has funded the recently completed Beaumont Way units known as Langage South to create jobs in the marine, defence and energy sectors. One unit has been let and there have been numerous enquiries in relation to the three remaining units, the meeting was told.
The city council is also delivering the final phase of its Oceansgate development as part of the freeport – 14,500 sq ft of near waterside and manufacturing and office space – and hopes to secure advanced lets on all eight units over the next 12-18 months.
Plymouth has secured a £4.4 billion investment in defence from the government over the next ten years and was announced last year as the national centre of excellence for marine autonomy.
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