ESSEX County Council will stump up £80,000 a year to become a member of Freeport East - despite no guarantee a new tax site in Harwich will be delivered.
The Government announced last year that Harwich and Felixstowe would become a freeport, which means the area will benefit from tax reliefs and simplified customs procedures.
It is aimed at boosting global trade following Brexit.
Essex County Council said Freeport East will create the opportunity for good jobs, education and training and encourage relocation to Tendring.
It will comprise 275 hectares of space and facilities across three sites eligible for tax relief, including at Bathside Bay in Harwich.
The Harwich Tax Site is intended to be developed as a 'clean energy hub' and create around 3,000 jobs.
Work on loading bays and inspection rooms as part of new border control checks on fresh produce and plants have already been completed.
But part of the required tax site needs to be reclaimed from the sea in order to provide a development platform, for which a "significant" funding gap of £80million remains even after an allocation of £7million of seed funding from the Government.
The council said the site may or may not be delivered irrespective of the authority's decision to become a member.
A statement as part of a cabinet decision set to be signed off said: “The biggest risk is that we participate in the company, pay the £80,000 annual contribution and very few benefits arise for Essex.
“The main benefits to Essex would be the delivery of a Clean Energy Hub in Harwich.
"There remains a significant funding gap and this may not be deliverable.
“The creation of a Freeport makes it more likely to be delivered but it is unclear how much more likely it would be."
The company – formed from Essex County Council, Suffolk County Council, East Suffolk Council, Mid Suffolk District Council, Tendring Council, the New Anglia and South East Local Enterprise Partnerships and Essex University – will be initially funded by £1million from the Government together with £80,000 per year from each local authority until at least 2024/25.
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