Situated on a site the size of three London Olympic Parks which could support the creation of up to 84,000 jobs and more than £4.8 billion in added value to the Midlands economy, the East Midlands Development Corporation celebrated a milestone by submitting its business case to the Treasury on Friday 16 March.
The Development Corporation, which will be situated across three sites around East Midlands Airport, Toton Hub and Ratcliffe-on-Soar Power Station, could be transformed by major development, further unlocking a new era of green growth for the Midlands.
Commenting on the East Midlands Development Corporation business case submission, Midlands Engine Chairman Sir John Peace said:
“What we have in front of us is one of the biggest opportunities the UK has ever seen to not just build on the potential of some major economic assets, but to transform the economy of an entire region in the process.
“The sites themselves are collectively the size of three London Olympic Parks and the vision for their growth is both ambitious and futuristic, embracing our net zero future and unlocking new opportunities which range from international trade to community-level growth.
“We must begin the work to unlock that potential now, and we start next month with the launch of the interim body.”
READ THIS FOR MORE ON THE PROJECT: Revealed: New images show vision for future of East Midlands economy across three massive zones