A body aiming to help generate 84,000 new jobs, 10,000 new homes and add billions in value to the East Midlands economy in years to come has taken a major step forward.
The proposed East Midlands development corporation will help accelerate the planning and development of three major sites centred on the East Midlands Airport area, Toton and Chetwynd and land around Ratcliffe-on-Soar Power Station.
The five local authorities supporting the initiative have now formally set up a body to begin its work, laying the foundations for a new kind of statutory development corporation which was flagged in the Queen’s Speech earlier this month as part of government plans to boost growth through planning reform.
The decision to set up EM DevCo Limited follows the submission of a detailed business case to government which highlighted the potential to use the three sites to fuel a step-change in regional economic performance.
One of its first steps has been to recruit an experienced Managing Director to lead its work. Richard Carr joins the DevCo having steered multi-billion-pound projects in different parts of the country.
He will now spearhead progress as EM DevCo seeks to significantly increase the overall impact of the three
link source - East Midlands Business Link General