The East Midlands has a once-in-a-generation opportunity to supercharge its economy and create tens of thousands of new jobs with a landmark development of national and global significance.
New plans could create 84,000 jobs and add billions to the regional economy.
Three developments cover size of three Olympic Parks with transformational opportunities around three main growth clusters: The East Midlands Hub HS2 station, East Midlands Airport and Ratcliffe-on-Soar Power Station.
The UK government has provided an initial £2m to undertake the work needed to shape and establish a new locally-led body, provisionally called the East Midlands Development Corporation.
As chair of the Midlands Engine, Sir John Peace is chairing an Alchemy Board made up of councils, businesses, universities, local enterprise partnerships and the Chamber of Commerce.
Sir John Peace said:
The development corporation is a catalyst for growth that has the potential to improve the life chances of children and families in the region for years to come by creating something that is not just nationally significant but will attract interest from around the globe.
The scale of ambition is matched by the new model we’re proposing. If we succeed, this will herald a new era of locally-led development bodies that brings business, government and communities together to shape real, positive long-term change.
Using the HS2 Hub Station at Toton as the super-connected centrepiece of a new Garden of Innovation featuring a new community and innovation district, setting new standards in 21st-century living, working and connectivity.
Already the UK’s largest airfreight hub, the Airport could be the centrepiece of an Inland Freeport which will provide regional businesses with a lower-cost gateway to international trade post-Brexit.