An East Midlands development company established as a three year project to support economic growth across the region will be passing on its projects to the East Midlands Combined County Authority.
East Midlands Development Company (DevCo) was set up three years ago to lead work to support three major growth opportunities at Ratcliffe Power Station, Toton and East Midlands Airport.
It also supports the region on growth plans around four railway stations at East Midlands Parkway, Nottingham, Derby, and Chesterfield working closely with each local area and the Department for Transport.
Other work includes assisting with the development of a vision for three former power stations in Bassetlaw working with the UKAEA and local partners.
Chair of the DevCo board, and property expert, Sir Chris Haworth, who has chaired the board from its inception in 2021, said:
“This is a momentous year for the East Midlands with some hugely exciting opportunities. Some of the sites and opportunities are of national, if not international significance. Realising the full potential will require new approaches and ways of working and the East Midlands is well placed to embrace these opportunities.”
Mayor of the East Midlands, Claire Ward said:
“The DevCo has opened a new way of looking at how we deliver development with the infrastructure to match and we want to build on this as we develop our inclusive growth strategy for the East Midlands.
“I would like to thank the local authorities, Sir Chris, the board and all those involved for their ambition for our region and the work they’ve done.”
The company was set up for a three-year term as an interim arrangement ahead of a new type of statutory development corporation like London Docklands being established.
The company has benefitted from the knowledge and experience of some of the UK’s top experts in development and regeneration.
The company also brought on board the team behind the redevelopment of high-profile regeneration projects including Gunwharf Quays in Portsmouth and London’s Battersea Power Station who have helped to shape some of the ideas.
Rob Tincknell the founder and CEO of Areli Developments and former CEO of Battersea Power Station said:
“When we started working with the team it became clear this required a regional scale vision for what I firmly believe is the most exciting growth opportunity in the UK.”
EM DevCo, which was always planned to be a three-year project, is due to be discussed at a series of council meetings over the course of October and early November. As part of this process, the Company will be formally wound up, as planned, as the initiative looks to move to the next phase.
Published on: 2 October 2024
Categories: News