The Mayor of the East Midlands, Claire Ward, met with the Under-Secretary for Housing, Communities and Local Government, Alex Norris MP, in Derby yesterday (Thursday 7 November).
Mayor Claire and Minister Norris visited Infinity Park in Derby, which is one of the three Investment Zone sites across the East Midlands.
£160m has been approved to support growth for the East Midlands Investment Zone (EMIZ) – with the funding spread over 10 years at three sites – Infinity Park, at Derby, Hartington-Staveley, in Chesterfield, and The Explore Park at Worksop.
East Midlands Investment Zone will boost growth and jobs and focus on green industries and advanced manufacturing and will be managed by the East Midlands Combined County Authority (EMCCA). It is anticipated that the Investment Zone could encourage £383m of private investment and help to create 4,300 jobs in the region.
At today’s visit to Infinity Park, the Mayor and the Minister stopped by the University of Derby Nuclear Skills Academy to look at the training centre, where up to 200 apprentices a year are qualifying with skills to work in the nuclear industry.
They also visited the Rolls Royce Engine Factory for a tour around the production facility and to look at links with the advanced manufacturing in the area.
Mayor Claire said: “The East Midlands Investment Zone will help us turbocharge our economy, attracting major investment and creating opportunities for businesses and residents and thousands of high-quality new jobs and apprenticeships, for local people.
“Having three sites in the East Midlands is a massive opportunity to work together regionally to deliver more opportunities for people and businesses here. Which will help make the East Midlands the best region in the country to live, work and learn.”
“It was great to visit Infinity Park today. Derby is an advanced manufacturing powerhouse, home to world-leading industry and having one of the East Midlands Investment Zone sites located here is great news for the city and its surrounding areas.”
Local Growth Minister Alex Norris said:
“Growth is a key mission for the government and that’s why we are giving Investment Zones the backing they need, including right here in the East Midlands.
“Today at Infinity Park Derby, I have seen the fantastic work being done to boost skills and innovation in green industries, creating amazing opportunities for local people and helping drive our economy forward.”
Infinity Park Derby is located to the south of the city, next to the world headquarters of Rolls-Royce Civil Aerospace, with Toyota Manufacturing (UK), Bombardier and JCB all close by.
The three East Midlands Investment Zone (EMIZ) sites include tax benefits to new companies to the sites. The Hartington-Staveley and Infinity Park will also benefit from Business Rate Retention – both of which will help boost economic growth, with income raised from business rates reinvested locally, creating thousands of high-quality jobs.
The £160m will also provide funding and grants for investment proposals and business cases, for developing new technologies, skills and training, and for research, innovation roadmaps and pilot projects.
Published on: 8 November 2024
Categories: News, Economic Development