Agenda item

To submit a report by the Head of Regulation and Economic Development.

The report of the Head of Regulation and Economic Development setting out progress on preparing the Outline Business Case for the Anglesey Freeport was presented for the Executive’s consideration.

The Chair provided some background information about the successful bid for Freeport status and the approval in July 2023 of the Initial Collaboration Agreement (ICA) with the port operator Stena Line. Through the ICA an interim Governing Body was set up and the Council is about to finalise a grant agreement with Welsh Government which has been used to support the development of an Outline Business Case (OBC). The OBC is being developed in line with the draft guidance for Welsh Freeports as the final guidance was not published until October 2023 but is unchanged from the draft version. The report outlines the requirements in completing the OBC and the issues involved.

The Head of Regulation and Economic Development confirmed that the timescale for the preparation and submission of the OBC has been challenging as has fulfilling the more technical aspects of the guidance’s requirements. A significant amount of work has been achieved and the Council is in a good position in terms of the information it has put together and in meeting the target submission date. Several work streams are ongoing in the background including in relation to net zero, the Welsh language, innovation, local supply chains and Fair Work to ensure that the proposal is one that works for both Anglesey and the wider northwest region. The Full Business Case will be prepared next year with a final decision expected by the UK and Welsh Governments in September 2024. In addition, a community event has been arranged in Market Hall, Holyhead for 1 December 2023 to publicise and help people better understand the Anglesey Freeport programme and the opportunities attached to the offer.

The Executive’s members thanked the Economic Development team for its efforts to date recognising that a great deal of work had been completed within a tight timescale as well as the importance of the local knowledge and understanding which the team has brought to that work. Whilst acknowledging the benefits that Freeport status is designed to create in terms of regeneration, job creation, investment and innovation, the Executive emphasised the importance of managing expectations highlighting that the Anglesey Freeport will not be operational until after the Final Business Case has been approved towards the end of next year. In response to a query about meeting the target date for the OBC, the Economic Development Manager confirmed that although the schedule is challenging and there is work still to be done, the Council is well placed to present the OBC to the expected standards in line with the November submission date.

It was resolved –

·      To authorise Officers to finalise the draft Outline Business Case (OBC)

·      To delegate authority to the Chief Executive in consultation with the Leader and Portfolio Holder for Economic Development, the Director of Function (Council Business)/Monitoring Officer and Director of Function (Resources)/Section 151 Officer to sign-off and submit the OBC for approval by UK and Welsh Governments.

·      To agree that the decision be exempted from call-in (with the agreement of the Council Chair) as any call-in could risk submission of the Outline Business Case being presented to both Governments.