Investment News | 19 August 2020
Drakelow set for cash injection
Drakelow Park is set to get a share of £23.7 million of Government funding to bring forward the site.
Drakelow Park, in South Derbyshire, will receive £7.65 million as one of 21 projects across Derbyshire, Nottinghamshire, Staffordshire and Stoke to receive a share of the cash, which is expected to create over 6,900 jobs in total.
The project will provide key infrastructure to unlock the development of the site of the former Drakelow power station. A new bridge will be installed, replacing the temporary Bailey Bridge and linking the site to the A38. The funding will also unlock the delivery of housing, industrial space and community facilities.
In total, the site will accommodate over 115,000 square metres of commercial space and 2,000 square metres of learning space.
The project, jointly supported by D2N2 and Stoke and Staffordshire LEPs, will also provide better road traffic links between South Derbyshire, East Staffordshire and the wider Midlands.
The partnership estimates that the project will directly create 2,440 jobs and safeguard another 110, with 440 construction roles also set to be created.
The funding has been allocated under the government's 'Getting Building' fund, which is aimed at helping the country's economy recover from the coronavirus pandemic.
