Kirkleatham Business Park
Redcar and Cleveland’s most prestigious, greenfield site located adjacent to Wilton International. Home to worldwide automotive manufacturer Elring Klinger and UK Steel Enterprise’s established business centre, the park also houses a variety of local and national companies.
The 25 hectare site is owned by Homes England and is targeted at the Advanced Manufacturing, Engineering, Chemicals, Renewable Energy and Professional Services Sectors. An ideal location for process industry supply chain companies given its proximity to Wilton International and the Teesworks site.
Teesside Freeport
In 2021, key sites in Redcar & Cleveland were given freeport status and is a part of Teesside Freeport. Building on existing manufacturing strengths, particularly in chemical and materials processing, biomanufacturing, offshore wind and renewable activity, Teesside Freeport will create more than 18,000 jobs and boost the local economy by billions in the first five years.
What is a freeport?
Freeports are tax and secure customs zones where business can be carried out inside a country’s land border, but where normal tax and customs rules don’t apply. While located geographically within a country, freeports essentially exist outside its borders for tax purposes.
Benefits of a freeport
- No stamp duty land tax
- Five years of zero business rates
- Full rebates for construction and machinery investment
- Enhanced capital allowances
- Employer NI contributions rate relief
For more information relating to Teesside Freeport, please visit: www.teessidefreeport.com
