The leader of Inverclyde Council, Stephen McCabe, has backed an ambitious proposal to create up to 30,000 new jobs, attract £2.5 billion of capital investment and transform nearly 600 hectares of vacant and derelict land in key locations after a bid was formally submitted for a new green freeport.

Councillor McCabe has endorsed the bid for a Clyde Green Freeport which would generate a multi-billion pound boost for the Glasgow City Region economy and accelerate regional, national and UK net zero targets.

The formal bid has been submitted to the Scottish and UK governments by a partnership of Glasgow Airport, Peel Ports' Clydeport, Mossend International Railfreight Park in North Lanarkshire and Glasgow City Region councils, including Inverclyde Council.

The bid has already attracted support from many key businesses and organisations based or operating within Glasgow City Region including Caterpillar, Malcolm Group, SP Energy Networks, the Universities of Glasgow and Strathclyde, Morrison Construction and Loganair.

Councillor Stephen McCabe, leader of Inverclyde Council, said: "We are thrilled to be involved in the bid submission for the Clyde Green Freeport.

"Working closely and fostering strong cooperation with other councils and the private sector, this ambitious bid is projected to bring significant economic gains to our community and the wider Glasgow City Region area.

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"A successful bid would allow for potential investment into our Greenock deep sea ocean terminal, expanding capacity and continuing the ongoing regeneration of Inverclyde.

"Collectively we're all excited that the bid has now been submitted and we eagerly await the results in the coming months.

"Until then, we remain optimistic about the outcome of the bidding process as we are confident that our bid will produce the economic results that the UK and Scottish governments are seeking."

A green freeport is a large, zoned area within a defined boundary which includes a rail, sea or airport. Operators and businesses in the zone can benefit from a package of tax and other incentives.

"Our bid is multimodal, covering air, sea and rail, and will further unlock global trade, doubling capacity to take products from across Scotland to the rest of the UK, Europe and beyond," said Kevin Rush, Clyde Green Freeport Bid Senior Responsible Officer and Director of Regional Economic Growth for Glasgow City Region.

"It will provide an £18 billion uplift in GVA to 2034. Vitally it will tackle the Region's greatest economic challenges - increasing productivity and generating more inclusive growth. This will be achieved through fast-tracking our world-class innovation economy and creating tens of thousands of jobs in communities across the Region with high levels of deprivation. Almost 40% of Scotland's most deprived communities are within the Clyde Green Freeport area.

"With the biggest City Deal in the UK and the legacy of COP26, Glasgow City Region has a proven track record of delivery. As Scotland's economic powerhouse, with unrivalled connectivity across the UK and beyond, we have everything in place to deliver a globally successful green freeport for our region, our residents, businesses, Scotland and the UK."

Key to the Clyde Green Freeport bid is a bold decarbonisation plan which would accelerate the Scottish and UK Governments' net zero ambitions. The Clyde Green Freeport would achieve net zero by 2040, and would include a new district heating system; waste to energy projects; renewable energy generation and projects to roll out green fuel for air, rail, road and sea transport within industries which have been dominated by carbon - including a new £1 billion hydrogen plant which could fuel 25% of Scotland's HGVs.