Investment Zone plan moves forward

Plans to put a Derby business park forward for Investment Zone status have been backed.

Derby City Council’s cabinet recently backed a report recommending that Infinity Park Derby be included in a bid for an East Midlands County Combined Authority (EMCCA) Investment Zone.

One of 12 planned across the UK, the East Midlands Investment Zone would offer a range of incentives to firms based within its boundaries, including business rates retention and tax incentives, to help boost economic growth and create thousands of jobs.

The East Midlands Investment Zone would focus on green industries and advanced manufacturing, boosted by government investment of £160 million over 10 years.

It would be managed by EMCCA and could leverage at least £383 million in private investment.

Infinity Park Derby is a collaboration between Derby City Council, the Harpur Crewe Estate, Rolls-Royce and Infinity Park Derby LLP, which includes Wilson Bowden Developments and Peveril Securities. It was awarded Enterprise Zone status in 2016.