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Multi-billion pound investment in 'new economic model' - what does it mean for the Midlands?
Multi-billion pound investment in 'new economic model' - what does it mean for the Midlands?

ITV News

time6 days ago

  • Business
  • ITV News

Multi-billion pound investment in 'new economic model' - what does it mean for the Midlands?

Rachel Reeves has announced the Midlands is set to receive over £4.4 billion pounds of economic investment as part of next week's Spending Review. It's part of what she calls a "new economic model - driven by investment in all parts of the country, not just a few". The funding comes out of a £15.6 billion pound funding pot for local transport projects across England. The government insists that it is important to prioritise regional economies to make all parts of the country better off. And the Midlands will now receive money for local projects that are aimed at making a difference. What funding is the East Midlands getting? The East Midlands is set to receive £2 billion pounds to overhaul its transport infrastructure. This would include: Funding of a new mass transit system to connect Derby and Nottingham. Including road, rail and bus improvements. This would support connections across the Trent Arc Corridor and will be used on road projects including the Chesterfield-Steveley regeneration route and A614 and A6097 improvements. Mayor of the East Midlands Claire Ward said: "This is the largest transport investment our region has seen in a generation. "This is the moment we begin to put right decades of underinvestment. From everyday frustrations to major barriers to growth, poor transport has held our region back for too long. "Whether you're a student weighing up college options, a small business struggling to recruit, or a visitor-facing venue trying to grow footfall. I know what happens when transport doesn't work. Fixing it is central to my Mayor's Transport Plan, and now we have the resources to deliver real, tangible change. "I look forward to working with partners across the East Midlands to deliver these improvements. Better transport doesn't just move people. It powers opportunity, unlocks growth, and connects us to a better future." What funding is the West Midlands getting? The West Midlands is to receive £2.4 billion for local infrastructure in the city. This will include: Buses, tram and local train improvements. Metro extension to Birmingham's sports quarter, delivering transit from East Birmingham to North Solihull. Hoped that the transport changes will unlock private investment from businesses down the line. Richard Parker, Mayor of the West Midlands said: "This investment also unlocks a nationally significant infrastructure project that will transform East Birmingham and North Solihull into one of the UK's key growth corridors - driving thousands of new homes and jobs and bringing opportunity to communities that have been held back for too long." The next stages in both the East and West Midlands will surely involve a lot of planning and preparation work. But the mayors of both regions are insistent they are committed to bringing about transport change across the Midlands.

East Midlands Airport unveils major development plans near runway
East Midlands Airport unveils major development plans near runway

BBC News

time21-05-2025

  • Business
  • BBC News

East Midlands Airport unveils major development plans near runway

East Midlands Airport (EMA) has unveiled major plans to develop parts of its at the airport said they had identified four plots of land, near the runway in Castle Donington, Leicestershire, totalling 123.5 acres (50 hectares) for new warehousing and car proposal could create more than 20,000 jobs as part of an expansion of its cargo operations, the airport are now being sought for the scheme. The plans, published on Wednesday, show three of the four development sites would have direct access to the runway through new taxiways and space to park up to 18 extra airport said 122,000 sq m of warehousing would be created along with 51,000 sq m of landside yard space.A recent study, commissioned by the airport, said there was potential to increase freight growth at the airport by 54% - to 583,000 tonnes - by study said that growth could boost the economy by £3.9bn and create 21,300 jobs. Airport managing director Steve Griffiths said EMA was already a major cargo hub with potential to grow said: "Our plan for growth will bolster the airport's pivotal role in powering UK trade, with tens of thousands of jobs and billions in economic value set to be unlocked by enhancing EMA's cargo operation. "We have four plots, a completely open mind over how those plots should be developed and are open to suggestions for investment mechanisms that would unlock their potential." East Midlands regional mayor Claire Ward has backed the said: "East Midlands Airport connects our region to the world, and we need to get the most out of those connections to grow the economy in a way that lands here – boosting our businesses and bringing people together."EMA's cargo expansion is consistent with this objective and is a game-changer not just for us, but for the UK."Kegworth Parish Council told the BBC it was aware of the proposed a statement, it said: "The council remains committed to representing the best interests and wellbeing of Kegworth residents and will carefully assess the potential impact of any changes on the village and surrounding area."A formal response to the proposals will be provided should the Council be officially consulted on the matter."

East Midlands mayor pledges delivery after 'difficult first year'
East Midlands mayor pledges delivery after 'difficult first year'

BBC News

time08-05-2025

  • Politics
  • BBC News

East Midlands mayor pledges delivery after 'difficult first year'

Mayor pledges delivery after 'difficult first year' 10 minutes ago Share Save Georgia Roberts Political Reporter, BBC Derby Share Save BBC Claire Ward was elected mayor of the East Midlands in 2024 The mayor of the East Midlands insists the coming year will be of "delivery" for the region after getting off the ground from scratch in her new role. Labour's Claire Ward also said that a brutal set of local election results for the party, whereby they lost scores of councillors across the East Midlands, underlined the need "to really deliver for people". "I understand that frustration," said Ward, who was elected as the first for the region last year to oversee the new East Midlands Combined Authority. The position is supposed to serve as a boon for attracting investment into local areas, with powers transferred from Westminster to take charge of projects. Claire Ward told the BBC: "This [was] a difficult first year because when I arrived a year ago into that office, they were literally unpacking the computers out of the boxes. There were 20 interim staff. "So this year has been about building those foundations, building the capacity and capability of the organisation so that I can go and do things. "And there's nothing worse than trailing around the region promising things that I simply couldn't deliver." The mayor driving a simulator for trainee drivers at East Midlands Railway's headquarters in Derby She cited new brownfield sites being cleared for housebuilding and investment in adult skills in colleges across the region as examples of visible upcoming delivery, as well as £5m for a youth scheme. The mayor said she would be increasing her presence across the region "now that some of those administrative pieces have been done", amid some criticism from opposition parties that she has not done enough to reach out to local people. She also insisted Derbyshire would benefit from "different funding pots and opportunities" for regeneration funding after Chesterfield was the only Derbyshire-based area in the region to be named as benefitting from £140m of regeneration funding. Asked whether the government were listening amid criticism from Red Wall MPs that investment in local infrastructure was seen as "too difficult", she said the government "needs to do more". 'Work with me' "If you look at transport funding, [the East Midlands] are not just at the bottom of the are way down. "What we need to see from the government is delivery, delivery, delivery. And they need to understand that in these regions, it's really important that we get that change. And that's why people are angry. "But the money that we've got from devolution, we're already investing." Ward pledged to "reinforce" a message of "delivery" to the government. In anticipation of Reform UK taking the reins in Nottinghamshire and Derbyshire, where they will need to work with the mayor on a number of issues, she said, "Look at the manifesto that I stood on last year and tell me which bits you don't agree with. "Work with me. We will work together and we will deliver for this region." Follow BBC Derby on Facebook, on X, or on Instagram. Send your story ideas to eastmidsnews@ or via WhatsApp on 0808 100 2210.

A hope for Nottingham Broad Marsh after years of false dawns
A hope for Nottingham Broad Marsh after years of false dawns

BBC News

time16-03-2025

  • Business
  • BBC News

A hope for Nottingham Broad Marsh after years of false dawns

"This is the year when we're going to see progress." East Midlands Mayor Claire Ward sounded confident the long-awaited redevelopment of Nottingham's Broad Marsh was on the horizon as she spoke about the project this decades of grand plans - always accompanied with the customary artist's impressions which have always failed to materialise - city residents would be forgiven for being with two seemingly important announcements this week, can Nottingham finally wave farewell to the mound of concrete and twisted metal the Broad Marsh has become? Plans, proposals and promises "There are more development opportunities here than anywhere else, and this development will act as the catalyst for all of them."That might sound like a politician or city planner talking about the site as it is in 2025, but it's fact, that was an architect speaking to BBC East Midlands Today about redeveloping the Broad Marsh in November then, the concrete monolith, built in the brutalist style common of the 1960s and 70s, was already looking at the time would have seen nearby Collin Street "put under glass", with new shops and a paved square."Work could begin next year," the BBC report marked the beginning of a string of proposals that all came to 1998, further plans promised 104 shops, a multiplex cinema, and a nightclub."I think it's the latest stage in Nottingham city centre's quite long battle to continue to be the leading shopping centre in the East Midlands," said retail expert Paul Whysall at the time. By 2002, a £400m expansion scheme had been approved by city planners, with then-owners Westfield declaring it an important "milestone" for the entrances at Lister Gate and Collin Street both saw refurbishment work, but the bigger plans once again never came to fruition, with the financial crash and recession blamed for further proposals submitted in 2010 were proven to be shortlived when just a year later, Westfield announced it was selling its stake in the was bought by Capital Shopping Centres - later renamed intu - which already owned the city's other major shopping venue, the Victoria years that followed saw back-and-forth rows with the city council over which centre intu would redevelop more and more units were left vacant, it took until 2015 for intu's own vision for a revamp to be company planned to spend £114m turning it into a "leisure destination" with more restaurants, cafes and a cinema, and 2018 was touted as a possible opening date. That - of course - wasn't to be, but by the end of the decade the city council had committed £50m to the scheme and work was finally under long last, it looked like it was for real, with redevelopment taking place in front of people's eyes rather than just on is until 2020, when the Covid pandemic meant work was meant more than just a pause in construction. Intu was already struggling financially and the first lockdown seemed to finish off the shopping centre company entered administration in June of that year, leaving the Broad Marsh site was immediately handed back to the city council, which was quick to say it didn't have the resources to take on the redevelopment on its leader David Mellen called the collapse a "major blow" for the city - and millions of pounds of taxpayers' money appeared to have been lost - but it did at least provide an opportunity for a rethink. An advisory group was assembled, bringing together experts from different sectors, and in 2021 a new "vision" was created with the help of world famous designer Thomas involved retaining some of the old shopping centre frame and reconnecting ancient streets with a green space at its the biggest barrier remained - council applied for grants from the previous government's Levelling Up Fund, but missed out on three surrounding area saw progress with the opening of the new Broad Marsh car park and central library in 2021 and 2023 in 2024, part of the vision became a reality with the opening of the new "green heart".But however welcome the new additions may be, the elephant in the room at each unveiling has been the shell of the shopping centre itself, still casting a shadow over the grey concrete may have been hidden behind green hoarding - but it's still there. The idea to retain the frame was dropped late last year, and this week's approval of funding for demolition work does make it seem like its days are again, Nottingham is hearing politicians' promises that it is for real this time, but after all the false dawns, there will be those who only believe it when they see Whysall, who was quoted in the BBC report from 1998, is now 77 and an emeritus professor of retailing at Nottingham Business many false dawns, he feels the saga is now finally drawing to a felt the decline of retail on the site was "inevitable", having always been the "second best" of the city's two shopping venues."It's a highly strategic location for the city, between the centre and the railway station, but it's never quite lived up to its potential," he added a change towards more residential use made sense."I think it's about the city coming to terms with the changing role of a city centre," he said."Retailing cannot be expected to do as much as it used to do."We expect to hear more about how exactly it is set to change in the coming weeks, but with construction work now set to start in 2029, according to the city council, there is some way still to may not be the end of the Broad Marsh nightmare, but perhaps it is the beginning of the end.

Extension to tram network 'must be viable'
Extension to tram network 'must be viable'

Yahoo

time12-03-2025

  • Business
  • Yahoo

Extension to tram network 'must be viable'

A feasibility study has been commissioned to explore extending Nottingham's tram network, it has been confirmed. The East Midlands Combined County Authority (EMCCA) approved £300,000 to fund the study at a board meeting on Monday. The BBC understands Gedling is among three locations identified as potential candidates for an extension. A major housing development at Fairham Pastures, near Clifton, is also being considered along with a potential development on the site of Chetwynd Barracks in Chilwell. Regional mayor Claire Ward said she has had "lots of conversations" about tram extensions. "We know that tram extensions are a really big investment and they also take a long time, so we've committed £300,000 for a feasibility study to look at some of those options and to just give us more information," she said. The network started operating in 2004, with the first line linking Hucknall and Phoenix Park to the city centre. It was last expanded in 2015 with two further lines to Toton and Clifton. Ward added: "Ultimately it has to be a viable option, and we won't know whether it is or whether any of those are options until we've had some feasibility work done." She added that EMCCA will not take on responsibility for the tram network until 2034. Follow BBC Nottingham on Facebook, on X, or on Instagram. Send your story ideas to eastmidsnews@ or via WhatsApp on 0808 100 2210. NET tram

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