Investment Zone plan moves forward

Derby City Council has backed plans to put Infinity Park Derby forward for Investment Zone status.

The city council’s cabinet recently backed a report recommending that the business park 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.