- Friday, April 26, 2024
By: Radhakrishna N S
Four projects, involved in the space industry, food sector, and the development of HS2, will form the new and innovative East Midlands Manufacturing Zones, UK communities secretary James Brokenshire MP announced on Thursday (3).
Melton Mowbray, Space Park Leicester, and areas across North Derbyshire and Greater Lincolnshire will together benefit from a total of £500,000 funding to develop their plans.
The investment builds on existing strengths in space, food and advanced manufacturing across the region, helping these important sectors to flourish and boost economic growth and jobs in the Midlands Engine.
The East Midlands manufacturing zones aim to reduce planning restrictions to allow land to be used more productively and provide certainty for business investment.
The announcement comes as the secretary of state, who is also the government’s Midlands engine champion, visits organisations across the East Midlands on Thursday to hear how they are contributing to a thriving region at the heart of the UK’s economic success.
Communities secretary Rt Hon James Brokenshire said, “manufacturing, innovation and trade are at the heart of the East Midlands economy, so it is the perfect place for the UK’s first manufacturing zones.
“This is another example of how the government is delivering for the Midlands with our modern Industrial Strategy backing local businesses and building on local strengths”.
The government’s Midlands Engine strategy is supporting the East Midlands to realise its huge potential. Initiatives including over £1.9 billion of funding from the local growth fund and an investment of £20 million in the Midlands Skills Challenge to boost people’s employment prospects are enabling businesses to create more jobs, export more goods and services and grow their productivity. Since 2010 unemployment has fallen 38 per cent and there are 64,500 more small businesses.
The East Midlands has also received sustained investment in recent years, including more than £400m for the strategic road network, more than £60m to tackle congestion and improve local transport, and £10m for the brand-new Ilkeston station.
