Proposed investment zone could boost growth and jobs in Derby

Businesses based at Infinity Park Derby could be set to benefit from the proposed East Midlands 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 high-quality jobs.

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

It would be managed by the East Midlands Combined County Authority (EMCCA) and could leverage at least £383 million in private investment.

Tomorrow, Derby City Council’s cabinet will be asked to approve plans for the inclusion of Infinity Park Derby as part of EMCCA’s bid to establish an investment zone for the region.

Councillor Nadine Peatfield, deputy leader and cabinet member for city centre, regeneration, culture and tourism, said: “Derby is an advanced manufacturing powerhouse, home to world-leading industry, an outstanding university and a skilled workforce.

“Having one of the East Midlands Investment Zone sites located here would be great news for the city and its surrounding areas. I look forward to seeing these ambitious plans develop over the coming months.”

Infinity Park Derby, which was awarded Enterprise Zone status in 2016, 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.

Situated to the south of the city, it is located next to the world headquarters of Rolls-Royce Civil Aerospace, with other global manufacturers, such as Toyota Manufacturing UK and Alstom close by.

Other proposed sites for the East Midlands Investment Zone include The Centre of Excellence for Modern Construction, near Workshop, and Hartington Business Park, in Staveley.

Plans for East Midlands devolution are similar to those already in place in other mayoral regions, like the West Midlands and Greater Manchester, and it is estimated that the region will unlock around £4 billion of funding over the coming years.

The East Midlands devolution deal, agreed with government ministers in 2022, will see Derbyshire, Nottinghamshire, Derby and Nottingham benefit from a £1.14 billion investment fund. All four councils approved the creation of EMCCA in December.