What is EM DevCo?
EM DevCo Ltd is a company owned by five local authorities in the East Midlands that brings together the ambition of partners from business, academia, and government. We have sustainability and net zero ambitions for inclusive economic growth at the heart of all our developments and are working hand in glove with the region’s universities as well as commercial partners and those organisations looking to protect and enhance our natural environment, creating integrated green and blue linked communities.
What will it do?
The East Midlands has a once-in-a-generation opportunity to supercharge its economy and create tens of thousands of new jobs via three landmark developments of national significance. EM DevCo will maximise the transformational potential of three huge regeneration sites:
The developments cover the size of three Olympic Parks with transformational opportunities around three main growth clusters situated within the borders of Nottinghamshire, Derbyshire and Leicestershire, and close to the core cities of Nottingham, Derby and Leicester.
These new plans could create 84,000 jobs and add billions in value to the regional economy. Our Net Zero ambitions for future infrastructure developments will ensure local growth, full and productive employment for all, and inclusive communities are created.
Government has highlighted the pioneering approach of the new EM DevCo as a model for accelerating development, realising large-scale potential and achieving locally-led high quality growth. It has been named as an exemplar in the Government’s White Paper on planning (Autumn 2020) and development corporations were named as suitable for the region’s growth in the Levelling Up White Paper, February 2022.
Reverse historic under-performance by building on the East Midlands’ significant economic potential.
Drive growth in a way which puts local people first, coordinates efforts across public and private stakeholders, and embraces sustainable technologies and sustainable developments.
Use focused resources and a clear remit to unlock potential and accelerate delivery.
How will it do it?
The DevCo’s focus is on the three sites, whose potential we will progress and unlock via:
- Facilitating alignment around a coherent vision for area regeneration
- Taking a comprehensive and integrated approach to planning & delivery, as opposed to piecemeal or adhoc development
- Bringing together the dedicated skills & capacity necessary to plan and deliver at strategic scale
- Providing certainty that de-risks investment in development and infrastructure projects of an exceptional magnitude
- Establishing a vehicle whose professionalism and credibility enables Government and private investors to deliver on levelling-up through long-term restructuring of the regional economy
- Accessing the commercial and public finance that enables delivery
- Being a platform for inward investment, marketing and promotion
- Identifying and helping to secure infrastructure which unlocks investment and development
- Working with partners to connect communities to opportunities by investing in skills and connectivity