The formation of a pioneering new organisation to help secure Government and private investment vital for job creation and regeneration continues to take shape.
Nottinghamshire County Councillors at a recent policy committee gave the go-ahead to create vital new job roles to kick-start a new interim body. This body will start to plan how Ratcliffe on Soar, East Midlands Airport as well as in Toton and Chilwell can be developed as part of ambitious regeneration plans.
These plans are estimated to create 84,000 jobs and add £4.8bn to the regional economy every year. The proposed new inland Freeport at East Midlands Airport, which will provide regional businesses with a lower-cost gateway to international trade post-Brexit, has recently had initial Government approval.
This body is being funded by a partnership made up of the County Council and four neighbouring councils* ahead of the new East Midlands Development Corporation gaining formal approval by
parliament.
With recruitment for the new roles now due to be underway, what has until now been a programme team, will become an interim body, hosted by Nottinghamshire County Council on behalf of the partnership and will work closely with businesses, investors and universities.
Alongside an interim managing director role, the new specialist posts include six full-time and a part-time role and will reflect the planning and programme management skills needed for a project of this size.
Councillor Kay Cutts MBE, Leader of Nottinghamshire County Council and Chairman of the Policy Committee said
“I’m proud of the way Nottinghamshire has come together with council leaders, universities and business from across the East Midlands to show we are serious about our ambitions to work together and recover from the pandemic. Significantly, it also has the support of the Secretary of State, Robert Jenrick.
“These plans will generate the jobs and skills people desperately need in Nottinghamshire and throughout the region, providing new opportunities for businesses – and their supply chain – to grow now and for future generations.”
“To help prepare for what will be a pioneering new model for boosting regional growth, these new roles are essential to help get these plans off the ground.”
The next milestone of these ambitious plans is a business case due to be presented to the Treasury. This will help pave the way for the parliamentary process necessary to formally set up a development corporation.**
Further details of the wider plans include,
Toton and Chetwynd – using the HS2 Hub Station at Toton as the super-connected centrepiece of a new Garden of Innovation featuring a new community of 4,500 homes and innovation district bringing thousands of new jobs to the area. This will set new standards in 21st century living, working and connectivity. The Hub also unlocks vital new transport capacity which will drive better connections across the region.
Ratcliffe-on-Soar – a vision to transform one of the UK’s last coal-fired power stations into a technology, advanced manufacturing and energy hub starting with a global research centre combining the expertise of the region’s universities to develop real-world zero emissions technologies which open up new markets and help the UK hit climate change targets.
East Midlands Airport – already the UK’s largest airfreight hub, the Airport recently had initial Government approval to be the centrepiece of an Inland Freeport which will provide regional businesses with a lower-cost gateway to international trade post-Brexit.
ALSO: Revealed: New images show vision for future of East Midlands economy across three massive zones
MORE BUSINESS NEWS: Business news on The Wire here
