As the primary frontier ports, Teesport and the Port of Hartlepool are operated by PD Ports, one of the Tees Valley’s largest employers and the UK’s northern gateway for international trade.
Contributing £1.4billion to the economy each year, its main operation at Teesport is the fifth largest port in the country and the only major port in England to handle more exports than imports. It’s also the largest container platform on the east coast, north of Felixstowe, with significant bulk, steel and project cargo capability backed up by an extensive array of specialist handling equipment.
As well as established global links and existing partnerships with the world’s major shipping lines, PD Ports is considering developing customs sites at both Teesport and the Port of Hartlepool, which would allow investors to take advantage of unrestricted duty and VAT suspension within the port estates.
Tax zones offer incentives to businesses such as no stamp duty, full business rates relief for up to ten years and enhanced allowances for construction and machinery investment.
Businesses within customs zones will receive a range of tariff benefits, including duty deferral while the goods remain on-site and suspended import VAT on goods entering the customs zone.