The Celtic Freeport, located in southwest Wales, has unveiled a five-year growth and delivery plan aimed at attracting significant investment and creating thousands of jobs in the region. The initiative is expected to generate over £8 billion in investment over the next 25 years, positioning the area as a leading hub for energy, manufacturing, and engineering.
Background and Launch
Established in November 2024, the Celtic Freeport was designed to attract investment in emerging green sectors, including low-carbon fuels, floating offshore wind, clean energy manufacturing, and advanced engineering. The project is a joint venture between Associated British Ports, Neath Port Talbot Council, Pembrokeshire County Council, and the Port of Milford Haven.
What Are Freeports?
Freeports are designated areas within the UK where different economic regulations apply, such as tax incentives for eligible businesses. They also offer simplified customs procedures and streamlined planning processes to boost redevelopment. Other UK freeports include the Thames, Teesside, and Liverpool City Freeports.
Key Targets and Priorities
Over a 25-year period, the Celtic Freeport is projected to deliver more than £8 billion in investment and create 11,500 jobs. The site is also expected to play a role in the rollout of an offshore floating wind farm in the Celtic Sea. The five-year plan, published in June 2026, identifies four key priorities:
- Driving capital investment into key freeport industries and developments
- Delivering a £25 million seed capital programme by the end of 2028-29
- Supporting and facilitating landowners to progress key development projects
- Exploring local supply chain innovation and decarbonisation pathways
- Laying the foundations for a thriving skills market with sustainable local employment
Leadership and Collaboration
Cathy Hall, interim CEO of the Celtic Freeport, stated: “This five-year plan sets out how the Celtic Freeport will support businesses across the region to decarbonise, grow, and access new opportunities. We will be focusing on delivering projects to consolidate the region’s strong industrial future.”
The plan follows a memorandum of understanding signed earlier this year between Neath Port Talbot Council, the UK and Welsh Governments, Pembrokeshire County Council, and the Celtic Freeport Company Limited. This agreement formalises the council as the accountable body for the freeport as it enters its delivery phase.
