Pembrokeshire could be “on the cusp” of an economic opportunity as great as the petrochemical industry investment in the county in the 1950s, senior councillors heard today, October 3, when they approved a full business case for the Celtic Freeport.

The Milford Haven Waterway-based Freeport, shared with Neath Port Talbot, represents a new opportunity to help Wales continue to develop a globally competitive, inclusive and sustainable economy, members of a special Pembrokeshire County Council Cabinet meeting heard.

At the meeting, Deputy Leader Cllr Paul Miller said: “This is a tremendously exciting period for the Haven waterway and for Pembrokeshire as a whole.

“We couldn’t be more closely aligned with the aspirations of UK and Welsh Government in terms of energy transition and our role is to ensure we create the right conditions for investment and growth both here in Pembrokeshire and across the South West Wales region.

“The scale of the opportunity ahead for the Milford Haven Waterway and for Pembrokeshire is enormous and we are determined to ensure we maximise the opportunity this coming energy revolution offers to grow the Pembrokeshire economy, to secure investment and to create and sustain good jobs.

“The energy industry is, and has been, a key component of the Pembrokeshire economy since the 1950s. The arrival of the hydrocarbon business to the Milford Haven waterway transformed the county and its prosperity. That industry continues to be the primary economic force in Pembrokeshire but it’s also not the force it once was – with the loss of four refineries.

“Therefore, we need to look to the future, to look for opportunity and right now, we’re on the cusp of another opportunity with the potential to be every bit as transformational as those investments in the 50s.

“This opportunity revolves around future clean, green, renewable energy and in particular the potential for Pembrokeshire to play a key role in the exploitation of wind energy through the design, fabrication, operation and maintenance of floating off-shore wind turbines – and also green hydrogen.”

He told members the Freeport would benefit the larger county, with potential huge business rates benefits, adding it would not result in any erosion of workers’ rights in the Freeport area, and would not “allow the overturning of planning regulations”.

“I think this is a tremendously exciting period for The Haven and Pembrokeshire as a whole, a great opportunity for us to play our part in energy transition and a real renaissance in industry around the Haven waterway, and the county as a whole.”

Leader Cllr Jon Harvey said: “It’s an exciting opportunity, what we’ve always striven to do is look to create well-paid jobs in Pembrokeshire, this gives us an opportunity, I believe. It could be quite aspirational.”

The Celtic Freeport in Milford Haven and Port Talbot, along with Anglesey Freeport on Ynys Mon was announced in March 2023.

The Celtic Freeport aims to attract significant investment, including £3.5bn in the hydrogen industry, and hopes to create 16,000 new jobs across the two sites, generating £900m in Gross Value Added (GVA) by 2030, and £13bn by 2050.