A ROSYTH councillor has said he supports Forth Green Freeport (FGF) due to the potential investment it will bring in the area.
This comes after FGF submitted its Full Business Case to both the Scottish and UK Governments.
A business case provides justification for undertaking a project. This will be reviewed by both governments.
After this, FGF’s partners, three local authorities (Falkirk, Edinburgh, and Fife), and both governments will sign a Memorandum of Understanding to allow the release of seed capital.
The projects that have been identified for development will then begin.
Cllr Andrew Verrecchia said: “I support the freeport in Rosyth due to its potential to bring investment to the region.
“The freeport has the potential to create jobs, and the fact that these positions will be unionised suggests a commitment to safeguarding workers' rights. This can lead to a more secure work environment.
“Additionally, the opportunities for renewable energy projects are significant, aligning with broader goals for sustainable development.
“The involvement of existing local employers, such as the Port of Rosyth and Babcock, also indicates a strong foundation for future growth.”
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FGF became operational on June 12, and is projected to create up to 34,500 jobs as well as generate £7.9 billion of private and public investment over the next decade.
Sarah Murray, CEO of Forth Green Freeport, said: “A Green Freeport designation is a policy to accelerate growth in the green economy.
“It is a designated area determined by UK and Scottish government, where companies can invest in and operate in with the benefit of a suite of investment incentives while adhering to strict Fair Work and Investment Principles and a decarbonisation commitment.
“The Forth Green Freeport (FGF) covers a wide area along the Firth of Forth including Rosyth, Burntisland and Leith (known as Mid Forth), Grangemouth and Edinburgh Airport.
"New eligible development within each if these locations will deliver major economic benefits for the local areas and the country as a whole.”
On jobs in the area, she added: “Fife Council have to date prepared detailed Committee reports, stating (22 Sept 2022) that newly created jobs at Rosyth and Burntisland are envisaged to potentially serve shipping logistics and advanced manufacturing, in addition to the assembly of offshore wind and low carbon energy generation.
“This is expected to support delivery of sustainable and just economic growth by capitalising on existing skilled labour markets.”
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Priority projects to be delivered using seed capital include an integrated energy system at Babcock’s Rosyth site and the creation of the AGIC Skills and Innovation Centre, also in Rosyth.
Sarah Murray added: “The priority projects have been identified for development to attract inward investment with the aim of delivering major economic benefits for both the local area and the country as a whole.
“The economic gains set out and the range of Fife sites and associated public or private infrastructure investment which can help to achieve the FGF objectives, are clear.
"Fife has a proven capability along the coast of the River Forth and in Mid Fife in serving the renewable energy, low carbon and advanced manufacturing sectors.
“Fife will also play a critical part in the operation and management of the FGF ensuring that the Forth corridor is revitalised to meet future economic needs in a just and sustainable way.”
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