New images show how key sites in the East Midlands could drive regeneration, bring in billions in revenues and create tens of thousands of jobs.
The designs, showing the potential for the area around Ratcliffe-on-Soar Power Station and the planned HS2 hub at Toton, in Nottinghamshire, have been created as part of a business case for a new East Midlands Development Corporation.
The case sets out how the new regional body could support regeneration schemes that could potentially add 拢4.8 billion a year to the East Midlands Economy, create an estimated 84,000 jobs and deliver thousands of new homes.
The case is highlighted in three key zones 鈥 around East Midlands Airport, the planned Toton HS2 hub, and the soon to be decommissioned power station 鈥 which supporters say could unlock a new era of 鈥済reen鈥 growth for the regional economy.
The airport and Ratcliffe site were recently given freeport status by the Chancellor of the Exchequer, while Ratcliffe is also being considered as a potential site for the 海角视频鈥檚 first nuclear fusion power plant.
The five councils covering the three zones have come together to fund an interim body which will begin the work of the planned development corporation while parliament considers giving formal approval.
The interim body will work with businesses, investors and universities to help get projects off the ground.
The corporation is one of the key projects of the Midlands Engine, the partnership of private and public sector organisations which works to promote investment and growth across the region.
Midlands Engine chairman Sir John chaired the group which led development of the new body.
He said: 鈥淲hat we have in front of us is one of the biggest opportunities the 海角视频 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.
鈥淭he 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.
鈥淲e must begin the work to unlock that potential now, and we start next month with the launch of the interim body.鈥
The interim vehicle is backed by the Leicestershire and Nottinghamshire county councils, Rushcliffe and Broxtowe borough councils, and North West Leicestershire District Council.
Talks on how the model can be extended further into the East Midlands are continuing.
Leicestershire County Council leader Coun Nick Rushton said: 鈥淭hese are bold plans designed to transform the East Midlands and unlock thousands of much-needed new jobs and investment.
鈥淎nd by advancing our green technology sector, they create a good opportunity to put our region firmly on the map.
鈥淟ike other areas, our economy has taken a big hit during the pandemic and I鈥檓 keen we seize every opportunity to bolster Covid recovery and support our businesses to bounce back quickly.鈥
North West Leicestershire District Council leader Coun Richard Blunt said: 鈥淭his is a real opportunity for North West Leicestershire and the wider region and it offers huge potential to support the economic recovery and growth of the area.
鈥淗ow we rebuild our local economy after the Covid-19 pandemic will be key to the long term to prosperity of our district, and it鈥檚 great to see key partners working together on this ambitious, once-in-a-generation plan.
鈥淣orth West Leicestershire is proud to be a green district with ambitious zero carbon targets and we鈥檙e pleased that 鈥榞reen growth鈥 is a key part of the development plan.鈥
East Midlands Airport managing director Clare James said: 鈥淲hen the region does well, so too does the airport and vice versa.
鈥淚t鈥檚 therefore in all of our interests that the East Midlands prospers, and the airport, which is our doorway to the world, will continue to play a key role in this.鈥
Kevin Harris, chairman of the Leicester and Leicestershire Enterprise Partnership board of directors, said: 鈥淭his is an exciting time for the East Midlands.
鈥淥ur bid for a freeport for our region has been accepted, meaning we will play host to the 海角视频鈥檚 only inland freeport.
鈥淭his latest initiative will build on this 鈥 the East Midlands Development Corporation is set to attract even more investment, as we look to emulate transformational infrastructure projects in places like Manchester and East London.
鈥淚 am pleased that the LLEP is supporting this programme, which will see marked improvements to our already world-class transport infrastructure.
鈥淭he goal of the EMDC is to ensure that the East Midlands is equipped to take full advantage of the boundless business opportunities of the future, and to make our region the place for long-term investment.鈥
Scott Knowles, chief executive of the East Midlands Chamber of Commerce which represents 4,300 businesses across the region, said: 鈥淭he East Midlands economy now has in front of it a series of major opportunities which must play a decisive role in both the recovery of the region in the wake of the pandemic and in unlocking the commercial opportunities presented by our digital and carbon zero future.
鈥淕overnment鈥檚 decision to award a freeport to the East Midlands is a huge vote of confidence in our prospects.
鈥淭he development corporation and the partnership behind it give us an additional opportunity to drive joined-up progress faster than ever before and to turn the region into the 海角视频鈥檚 investment destination of choice.
鈥淚t鈥檚 vital that the whole region now gets behind these opportunities and makes the most of their potential.鈥
