A £19.1million Freeport Gateway project has taken a major step forward, following the recent approval of its Business Justification Case by Ambition North Wales.
The scheme, which is part of the North Wales Growth Deal delivered by Ambition North Wales, will create 6,700m² of new employment floorspace, create 223 jobs, and generate an estimated £65.4million in economic value by 2036.
The project is backed by £3.48 million Growth Deal funding and £4million from the Anglesey Freeport Seed Capital fund from UK and Welsh Government. The balance of the funding for the project will be delivered by the private sector who will develop new buildings on the former Eastman Peboc site. The project aims to bring quality jobs and attract new businesses to the island.
The project will clear the disused former Eastman Peboc site on the outskirts of Llangefni and create development plots on the land. The site closed in 2008 with the loss of 60 jobs. Approval of the project means that project sponsor, Isle of Anglesey County Council is in a stronger position to acquire the site, where it plans to expand and improve access to the Tregarnedd Industrial Park.
The Freeport Gateway Site is part of the North Wales Growth Deal’s Land and Property Programme which is looking to address some of the challenges that face the property market in North Wales.
Cllr Jason McLellan, Lead Member for Ambition North Wales’s Land and Property Programme, and Leader of Denbighshire County Council, said:
“These proposals would bring this site back into use, delivering real benefits for Llangefni and the wider region. With Growth Deal support, this former industrial site can be revitalised to create good-quality jobs. By improving infrastructure, adopting sustainable design, and aligning with Freeport plans, the project will strengthen the local economy and reinforce Anglesey as a location for business and innovation.”
Cllr Gary Pritchard, Leader, Isle of Anglesey County Council added:
“This project is of strategic importance to Ynys Môn. It supports both UK and Welsh Government Growth Deal objectives of promoting inward investment and using our Freeport status to increase demand for industrial development. Bringing the former Peboc site back into use and expanding Tregarnedd Industrial Park will create high-quality employment opportunities and strengthen our position as a we look to strengthen the island’s economy.”
Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said:
“This project will restore an important industrial site for use, delivering significant economic value for the region and its residents.
“With £120m in backing from the Welsh Government, the North Wales Growth Deal is delivering a transformation of the North Wales economy.”
Wales Office Minister Anna McMorrin said:
“Progress on delivering this vital project is great news for Anglesey. Bringing this site back into use for development will create new jobs and encourage investment, benefitting local people as we help grow the local economy.
“Investment from the UK Government via the North Wales Growth deal and Anglesey Freeport is helping unlock the potential of Anglesey, putting more money into the pockets of local people.”
Securing Freeport status from the Welsh and UK governments has unlocked £25million in Government seed capital, removed barriers to trade and provided easements that simplify how businesses can operate.
Each project within the North Wales Growth Deal is required to develop a Business Case, which forms part of a structured approval process. Work is expected to start on site in 2026 with completion in 2027.