Industry giants to anchor second East Midlands Investment Zone

Chancellor Jeremy Hunt ahead of the 2023 Autumn Statement (Credit: Rory Arnold / No 10 Downing Street)

The East Midlands will get another Investment Zone, it has been announced in the Autumn Statement.

The second East Midlands Investment Zone, the location of which has not been disclosed, will focus on green industries and advanced manufacturing, and is expected help to leverage £383m in private investment and help to create 4,200 jobs in the region over the next 10 years.

It will be anchored by investment from Rolls Royce and Laing O’Rourke worth £9.3m.

The move follows lobbying by Ben Bradley, the MP for Mansfield, leader of Nottingham County Council and East Midlands Mayor candidate.

Meanwhile, a devolution for Greater Lincolnshire took a major step forward today (22 November), as central Government announced the agreement of a proposed deal.

The next stage will now be taken towards this historic deal, which if implemented will see millions of pounds of funding flow down from Government to a new Mayoral Combined County Authority, (MCCA) to support Greater Lincolnshire’s 1.1-million residents for the next 30 years.

Council leaders from Lincolnshire County Council and the two unitary authorities of North East Lincolnshire and North Lincolnshire, who have led the deal process, united in welcoming the announcement. They highlighted how devolved powers would see local decisions made at a local level with new opportunities, more investment and greater growth in key areas.

This, they add, would benefit all areas of Greater Lincolnshire with all corners of the county having a say in what is needed and how money is best spent.

North East Lincolnshire Council Leader, Cllr Philip Jackson joined his fellow Leaders , Cllr Martin Hill OBE (Lincolnshire County Council Leader) and Cllr Rob Waltham MBE (North Lincolnshire Council Leader), in warming welcoming today’s announcement:

He said: “Together, we share a united vision to help create the very best opportunities for our respective council areas, and for Greater Lincolnshire as a whole. There is no doubt that this proposed devolution deal is set to provide that.

“This day is of huge significance. It represents a future of collaboration, bringing with it local and direct control of the things that really matter to the 1.1-million residents of Greater Lincolnshire who this proposed new deal is for. We are delighted and now wish to take everyone on a journey which we believe is the right one for us all.”

Following a formal ceremony next week, Full Council meetings will take place in the three lead authority areas to vote on the proposal, and that it should go out to public consultation. North East Lincolnshire’s meeting will take place on Thursday 30 November at 7pm.

If the three councils’ votes are favourable, residents will have their say during an eight-week consultation period due to start in early December – it is only after that, that the final decision will be made both locally and at Government level.

If it moves to this stage, the MCCA would exist from May 2025 when residents would vote for their new Greater Lincolnshire Mayor and the combined authority would be established. Existing councils will continue to run as they do now with representatives from them all forming the new MCCA board, along with representation from the seven district/borough councils across Lincolnshire, business and the Police and Crime Commissioner, (PCC)

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