Plymouth’s tax-break freeport will bring “opportunities” but also “risks”, according to a leading city academic. Dr Patrick Holden said the trade and manufacturing zone is likely to build on some of Plymouth’s successful business initiatives but it could also lead to environmental and social issues.
The University of Plymouth academic said any investment from central government is to be welcomed and the Plymouth and South Devon Freeport should bolster city success stories such as the Oceansgate marine business enterprise zone. But he said there is much yet to learn about how the freeport will operate and the danger it may be “undercut” by the newly announced investment zone.
Dr Holden said: “There are some opportunities but a few risks. There is still a lot that is not understood. It’s very fluid, how it’s going to work.”