Global construction company Mace Group – who are behind major projects such as The Shard and the London Eye – commissioned the study which has found that a Free Zone at Teesport and Hartlepool would create 10,317 jobs and add £619m to the local economy.
Establishing a Free Port in Tees Valley is a key priority of mayor Ben Houchen.
In January, he launched a campaign to look at the creation of a Free Zone as a test case for the UK, backed by more than local 50 leading employers in the area, including Hitachi Rail, Sirius Minerals, Liberty Steel and Quorn Foods.
Mr Houchen said: “This report confirms what I have been saying for a very long time, that a Free Zone in the Tees Valley will be transformational for our region and vital in a post-Brexit Britain.
“Areas with Free Port status are recognised around the world as playing a major role in retaining, re-shoring and growing domestic manufacturing activity and boosting trade. All this means is more jobs for local people and a huge boost to our economy.