THE NEWLY operational Thames Freeport will "turbocharge" south Essex with a massive boost for "jobs, industry, and investment”.

Thames Freeport – which stretches across London Gateway, Tilbury port and Dagenham Engine Plant – has been officially signed off by the government with an extra £25 million funding set to be injected into the area,

Freeports are special areas within the UK's borders where different economic regulations apply, such as extra business rates retention and tax incentives, to help business thrive.

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On Monday, the government made Thames Freeport the country’s five official and fully operational freeport.

Authorities estimate that 12,000 new jobs will be created in the region around the freeport’s three hubs.

Stephen Metcalfe, MP for South Basildon and East Thurrock, labelled the news as “fantastic” for the region.

“We already have London Gateway which has the UK’s biggest onsite logistics park and brings in huge amounts of investment,” Mr Metcalfe said.

“The Thames Freeport will turbocharge the region’s successful logistics sector with direct government funding, tax incentives and streamlined customs procedures.

“When there is an attractive business environment, businesses invest and create good jobs.”

He added: “The final approval of Thames Freeport is a vote of confidence in the local area, its skilled workers and its potential for growth.”

Eligible businesses in Freeports will enjoy a range of tax incentives, such as enhanced capital allowances, relief from stamp duty and employer national insurance contributions for additional employees.

Robin Mortimer, Maritime UK Chair said: “This latest wave of Freeport approvals is a major boost for UK maritime and the wider levelling-up agenda. Business, and the wider communities, will now be able to benefit from the wave of investment, development and jobs that Freeports are projected to generate.

The Thames Freeport includes three sites.

London Gateway, one of the UK’s largest logistics hubs and one of the world’s fastest growing container ports, connecting over 130 ports and 65 countries and handling almost 2 million 20-foot equivalent units annually

Tilbury, London’s major port, with a throughput of 16 million tonnes per annum and an estimated value of £8.7 billion is also part of the zone.

While Ford’s Dagenham Engine Plant, London’s largest manufacturing location for over 90 years, is the third site.