Investment News | 18 November 2020
Focus on Infinity Park Derby
Derby is to showcase a total of 17 major investment projects at the Midlands UK Forum for Growth.
They will be highlighted during a presentation to be delivered on the morning of Day One of the three-day online event by Councillor Matthew Holmes, Derby City Council’s deputy leader and cabinet member for regeneration, planning and transportation, along with the city council’s chief executive, Paul Simpson.
Entitled Investing in Derby – UK Capital for Innovation, they will outline the investment opportunities in Derby, including ongoing projects, shovel-ready schemes and pipeline developments that have the potential to give the local economy a major boost.
It will feature a new three-minute film, detailing all 17 projects, which are set out in a new 26-page Derby Investment Prospectus, both of which can be found here.
Among the projects highlighted will be Infinity Park Derby – a 100-acre greenfield site to the south of the city, adjacent to Rolls-Royce’s global civil aerospace headquarters.
As well as being included in the presentation, Rachel North, strategic director for communities and place at Derby City Council, will also be delivering a pitch specifically on Infinity Park Derby and the opportunities it presents.
A designated Enterprise Zone, at the heart of the development is the iHub, an £11.8 million managed workspace and business incubator, managed by Connect Derby.
It is home to a variety of innovative start-ups and SMEs across the high-tech manufacturing and engineering sectors.
Now, it is set to be joined by another impressive building – and advanced manufacturing research centre.
Recently, the £15 million development took an important step forward after Derby City Council approved plans to deliver the new facility with its partners Nuclear AMRC, the University of Derby and IPD LLP.
Creating up to 70 high value jobs, it will be operated by Nuclear AMRC, part of the national High Value Manufacturing Catapult, which helps companies develop new techniques and processes to win work in the nuclear sector.
It also helps tackle manufacturing challenges in automotive, rail, aerospace renewable energy and other high-value sectors.
The next stage will see a planning application submitted in February, with work on site expected to begin in August.
Upon completion, the facility will create a permanent base for Nuclear AMRC and become a base for the University of Derby’s Institute of Innovation in Sustainable Engineering.
According to the city council, the facility is expected to add £52 million to the Derby economy across a five-year period, supporting SMEs in the area to grow by creating opportunities for research and development.
Andrew Storer, chief executive of the Nuclear AMRC, said: “There will be huge opportunities for the region’s manufacturers as the UK moves to net-zero emissions by 2050, and we will work closely with companies of all sizes to help them join the supply chains for small modular reactors, fusion power and hydrogen generation.
“The new facility will also allow us to work with companies in other sectors such as aerospace and rail to help them overcome the manufacturing challenges in their core markets, and share world-leading innovation and best practice to support long-term sustainable growth.”
